Energy Co. Execs Blocked From Foreclosing On Oil Interests

Law360, Dallas (November 26, 2012, 8:51 PM EST) -- A Texas state judge on Monday blocked three directors of Sun River Energy Inc. from foreclosing on a note that would give them the oil and gas rights to 260,000 acres of land in New Mexico, saying shareholders were at risk of losing all Sun River’s assets if the deal went through.

Dallas County District Court Judge Dale B. Tillery said shareholders faced the risk of irreparable harm if Sun River's CEO Donal R. Schmidt Jr., Chief Operating Officer Thimothy Wafford and former general counsel James...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.