Macquarie, Keba Say ATP Still Owes Them $3M In Royalties

Law360, Houston (April 3, 2013, 5:21 PM EDT) -- Macquarie Investments LLC and Keba Energy LLC asked a Texas bankruptcy court Wednesday to hold ATP Oil & Gas Corp. in contempt for refusing to hand over nearly $3 million in royalty payments.

Macquarie and Keba argued in an emergency motion that ATP is using for its own operating expenses $2.9 million in royalty payments the pair of interest holders were supposed to receive last month, violating an August order that the funds be disbursed.

“[Macquarie] and Keba subsequently learned that many, if not all, of...
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