Bankrupt Norse Holding Land Hostage, Suit Says

Law360, New York (May 20, 2013, 2:38 PM EDT) -- Dozens of New York landowners hit oil and gas producer Norse Energy USA with an adversary suit Friday, claiming the bankrupt company is holding their land hostage with expired leases while it waits for a hydraulic fracturing moratorium to lift.

The plaintiffs, 89 landowners in western and central New York, say they signed leases granting Norse mineral exploration and development rights. All but four of those leases have expired, but the company has cited them as its most significant assets in its Chapter 11 proceeding. The...
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