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Entries tagged “buyer”

Third Circuit SemCrude Decision Impacts Oil Producers and Purchasers

insights Third Circuit SemCrude Decision Impacts Oil Producers and Purchasers Douglas J. Schneller · September 4, 2017

Applying Delaware law, the United States Circuit Court of Appeals for the Third Circuit issued a ruling that will significantly affect the rights of upstream producers of oil and gas and secured creditors generally. The court determined that upstream oil producers did not have automatically perfected security interests in oil they sold prepetition to the debtors. Thus,…

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First Circuit: Bankruptcy Court “Retention of Jurisdiction” Provision Requires More Than Mere Words

insights First Circuit: Bankruptcy Court “Retention of Jurisdiction” Provision Requires More Than Mere Words Douglas J. Schneller · July 11, 2017

The First Circuit recently ruled that the bankruptcy court lacked the authority to adjudicate disputes under a contract because there was no “arising under,” “arising in” or “related to” jurisdiction — in spite of the fact that the contract itself, previously approved by the bankruptcy court, included a provision giving that court jurisdiction. Learn more here.…

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