Legal Opinion
In Re Osyka Corp.
United States Bankruptcy Court, S.D. Texas
Decided March 18, 2010No. 08-31467Published
1Opinion of the Court
MEMORANDUM OPINION
MARVIN ISGUR, Bankruptcy Judge.
This case arises out of a sale of assets and assignment of oil and gas leases (“Sale and Assignment”) by Osyka Permian, LLC and Osyka Corporation (“Debtors”) to Le-gado Resources, LLC (“Legado”). The question the Court must resolve is the extent to which the Sale and Assignment was “subject to” Bruce Houffs (“Houff’) overriding royalty interest (“ORI”). As set forth below, the Court holds that Debtors’ Sale and Assignment to Legado was subject to Houffs ORI and to the lien securing payment of the ORI.
Background
1.Events Leading Up to This Case
On…
2Cases cited11 opinions
- Browning Manufacturing v. Mims (In Re Coastal Plains, Inc.)Court of Appeals for the Fifth Circuit · 1999
- Kane v. National Union Fire InsuranceCourt of Appeals for the Fifth Circuit · 2008
- Jethroe v. Omnova Solutions, Inc.Court of Appeals for the Fifth Circuit · 2005
- Hall v. GE Plastic Pacific PTE Ltd.Court of Appeals for the Fifth Circuit · 2003
- Superior Crewboats Inc. v. Primary P & I Underwriters (In re Superior Crewboats, Inc.)Court of Appeals for the Fifth Circuit · 2004
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