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...
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