California Must Face Bankrupt Venoco Claim Over Oil Assets

Law360 (January 3, 2020, 5:11 PM EST) -- California can't use sovereign immunity as a shield against oil driller Venoco LLC's bankruptcy trustee's allegation that the state is using its former offshore oil platform without paying, a Delaware federal judge ruled Friday.

Affirming a bankruptcy court ruling, U.S. District Judge Colm F. Connolly said a trustee for Venoco can move forward with an adversary claim against the state in its Chapter 11 proceeding in Delaware bankruptcy court.

California and its State Lands Commission made a claim for $130 million against Venoco for decommissioning the platform and said the state plans to use the facilities for five years and collect...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!