$135M ATP Royalty Deals Off-Limits From Creditors, Suits Say

Law360, New York (March 8, 2013, 8:04 PM EST) -- An investment bank and an energy company slapped ATP Oil & Gas Corp. with two adversary suits Friday accusing it of fraudulently selling $135 million in royalty interests as real property, attempts to prevent the Texas bankruptcy court from taking their interests to pay off ATP’s creditors.

A unit of global investment bank Macquarie Group Ltd. and Keba Energy LLC launched two separate suits claiming they were induced into buying $110 million and $25 million, respectively, in overriding oil and gas royalty interests, which it was...
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.