TXCO Sues CMR, Llewellin Over $3.8M Mineral Assets

Law360, New York (November 3, 2009, 3:16 PM EST) -- Bankrupt oil company TXCO Resources Inc. has sued CMR Energy LP and Llewellin Co. Fund I LP for a declaratory judgment that they have no right under a 2005 repurchase agreement to buy $3.8 million in mineral assets that TXCO is currently in negotiations to sell to another buyer.

TXCO's complaint, filed Monday in the U.S. Bankruptcy Court for the Western District of Texas, claims that the assets — which CMR sold to to EnCana Oil & Gas (USA) Inc. in 2005, and which TXCO agreed...
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