Provident Royalties, Creditor End $37M In Bankruptcy Disputes

Law360, New York (August 15, 2012, 2:18 PM EDT) -- A Texas bankruptcy judge on Tuesday approved a settlement between defunct Provident Royalties LLC and a creditor, oil and gas title services provider PFM LLC, putting to rest dueling lawsuits over unpaid fees and alleged fraudulent transfers that had sought a combined $36.8 million.

U.S. Bankruptcy Judge Royal Furgeson approved the private, joint agreement between the parties on Tuesday, settling PFM's $6 million suit over alleged unpaid fees for title and land work and Providence's $30.8 million clawback suit over millions of dollars PFM received during...
To view the full article, register now.




Case Information

Case Title

PFM LLC v. Provident Royalties LLC et al

Case Number



Texas Northern

Nature of Suit

Bankruptcy Withdrawal


Royal Furgeson

Date Filed

August 30, 2011

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.