ATP Oil & Gas Ducks KO Bid In Suit Over Property Deals

Law360, New York (January 7, 2014, 7:24 PM EST) -- A Texas bankruptcy judge on Monday rejected NGP Capital Resources Co.'s bid for a quick win in its suit against ATP Oil & Gas Corp., saying that properties ATP got from NGP can be disguised financing agreements and not transfers of real assets.

After ATP's 2012 bankruptcy, NGP filed a motion for summary judgment in February, seeking the court's declaration of property deals with ATP as real property transfers to the latter. However, U.S. Bankruptcy Judge Marvin Isgur found Monday that there was a “genuine issue...
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