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Category Archives: Bankruptcy

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Noble Energy Gets More Than It Bargained For in Bankruptcy Purchase

Posted in Bankruptcy
A recent case from the Texas Supreme Court emphasizes the importance of doing due diligence before purchasing assets from a debtor in bankruptcy. The case, Noble Energy, Inc. v. ConocoPhillips Company, held that Noble, through its predecessor and without realizing it, purchased a $63 million liability when, in addition to purchasing the bankrupt entity’s assets,… Continue Reading

Supreme Court Makes It Easier to Show “Actual Fraud” in Bankruptcy Dischargeability Actions

Posted in Bankruptcy
For individual debtors, obtaining a discharge of their debts in bankruptcy is a prime objective.  That discharge is, however, subject to a number of exceptions designed to prevent abuse of the bankruptcy process. Among those exceptions is 11 U.S.C § 523(a)(2)(A) which states that an individual debtor is not discharged of any debt – “… for… Continue Reading

Gordon Arata Spotlights Its Bankruptcy Practice

Posted in Bankruptcy
Long recognized for the strength and breadth of its oil and gas practice, Gordon Arata’s bankruptcy practice is equally notable.  We highlight it today. Core Team Gerald (Jerry) Schiff served over a decade as U.S. Bankruptcy Judge for the Western District of Louisiana while occasionally sitting in the Shreveport and Alexandria Divisions as well as… Continue Reading

NGP Capital v. ATP

Posted in Bankruptcy
We recently had the opportunity to speak at the 61st Mineral Law Institute on the topic of “trending risks on the Outer Continental Shelf (OCS).”  One interesting topic we discussed was the increasingly common practice of conveying non-cost bearing interests (for example, overriding royalty interests, net profit interests or production payments) to working capital lenders… Continue Reading