In the Matter of Tejas Drilling Company, Debtor. Tejas Drilling Co. And Greycas, Inc. v. Del International, Inc.

THORNBERRY, Circuit Judge:

Appellants Tejas Drilling Company and Greycas, Inc. challenge the bankruptcy court’s and the district court’s conclusion that Del International, Inc. has a valid vendor’s lien in an oil and gas rig. The appellants argue that the courts erred in failing to find that Del’s lien never was created, that Del waived its lien if it was created, that Del was estopped from asserting the lien if it existed, that any creation of the lien amounted to a fraudulent transfer, and that any rights Del had in the lien should be equitably subordinated to Greycas’ rights. We assume for…