Lothian Bankruptcy Deal Survives Shareholder Challenge

Law360, New York (October 7, 2011, 3:27 PM EDT) -- A Texas federal judge on Wednesday refused to set aside a settlement in which bankrupt Lothian Oil Inc. agreed to give a supposed competitor, created by a group of shareholders, $200 million worth of property for $115,000 as part of an allegedly fraudulent Chapter 11 case.

U.S. District Judge Harry Lee Hudspeth upheld a bankruptcy court order declining to nix the settlement between Lothian and Nawab Energy, saying the appellants — a group of Lothian shareholders — filed their objection outside the 180-day window for revocation...
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Case Information

Case Title

Anti Lothian Bankruptcy Fraud Committee et al v. Lothian Oil Incorporated

Case Number



Texas Western

Nature of Suit

Bankruptcy Appeal (801)


Harry Lee Hudspeth

Date Filed

January 7, 2010

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