3rd Circ. Denies Calif.'s Immunity In Venoco Proceedings
Law360 (May 25, 2021, 3:59 PM EDT) -- The Third Circuit Court of Appeals has shot down California's sovereign immunity challenge to a Chapter 11 trustee's move to liquidate coastal refinery assets taken by the state from bankrupt oil driller Venoco LLC without payment to its Chapter 11 case.
The precedential ruling issued Tuesday by a three-judge panel upheld a finding in the U.S. District Court for Delaware in January 2020 that, under the circumstances of the case, Venoco's estate can seek recoveries for the California State Lands Commission's taking of an offshore platform and a nearby, onshore processing complex.
"States cannot assert a defense of sovereign immunity in...
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