Okla. State Treasurer v. Linn Operating, Inc. (In Re Linn Energy, L.L.C.)

EDITH H. JONES, Circuit Judge:

*864 The district court held that the bankruptcy court erred in dismissing a post-confirmation attempt by the Oklahoma State Treasurer ("Treasurer") to obtain the right to unclaimed royalty payments owed by the oil and gas debtor. Because the Treasurer sat on its rights during the entire Chapter 11 process, res judicata bars its claim. We REVERSE the district court judgment and reinstate the bankruptcy court's DISMISSAL of the Treasurer's case.

I. BACKGROUND

Linn Energy, LLC ("Linn") is an oil and gas company that operates in Texas and Oklahoma. In May 2016, Linn and…