Legal Opinion
Arrow Oil & Gas, Inc. v. J. Aron & Co. (In re SemCrude L.P.)
Court of Appeals for the Third Circuit
Decided July 19, 2017No. Nos. 15-3094, 15-3095, 15-3096 & 15-3097; No. 15-3121, No. 15-3123, No. 15-3124PublishedCited by 15 opinions
1Opinion of the Court
OPINION OF THE COURT
AMBRO, Circuit Judge
Appellants, who are oil producers, sold their product to SemGroup L.P. and affiliates (including SemCrude L.P.), midstream oil and gas service providers and the Debtors in the underlying Chapter 11 cases. SemGroup sold oil to and traded oil futures with Appellees, downstream oil purchasers. The producers took no actions to protect themselves in case of Sem-Group’s insolvency. The downstream purchasers did; in the case of default, they could set off the amount they owed Sem-Group for oil by the amount SemGroup would owe them for the value of the…
2Cases cited16 opinions
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- In Re Pacor, Inc. v. John Higgins, Jr. And Louise HigginsCourt of Appeals for the Third Circuit · 1984
- Grupo Dataflux v. Atlas Global Group, L. P.Supreme Court of the United States · 2004
- Anderson v. Wachovia Mortgage Corp.Court of Appeals for the Third Circuit · 2010
- Couden v. DuffyCourt of Appeals for the Third Circuit · 2006
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3Cited by15 opinions
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- Deutsche Bank Trust Company Americas, Agent v. First River Energy, LLCUnited States Bankruptcy Court, W.D. Texas · 2020
- Disen v. Bayview Loan Servicing, LLCDistrict Court, M.D. Pennsylvania · 2021
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