ATP Breached $33M Oil, Gas Royalty Contracts, Suit Claims

Law360, Houston (August 15, 2012, 8:10 PM EDT) -- Two units of global financial services firm Perella Weinberg Partners LP on Wednesday fired a suit at ATP Oil & Gas Corp. in Texas state court, alleging that the developer failed to deliver royalty payments, breaching contracts worth $33 million.

TM Energy Holdings LLC and GMZ Energy Holdings LLC — both controlled by Perella — claim that they paid millions for the right to receive royalties and profits on wells ATP is developing in the Gulf of Mexico, but have stopped receiving payment from the financially...
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