Hill v. New Concept Energy, Inc. (In Re Yazoo Pipeline Co.)

MEMORANDUM OPINION

MARVIN ISGUR, Bankruptcy Judge.

For the reasons set forth below, the Court grants, in part, and denies, in part, Defendants’ Motions to Dismiss Plaintiffs’ First Amended Complaint.

Background

On December 23, 2008, Yazoo Pipeline Co., LP, Sterling Exploration & Production Co., LLC, and Matagorda Operating Co., LLC, (collectively, “Debtors”) filed for chapter 11 bankruptcy relief before this Court. Sterling was an oil and gas exploration and production company. Yazoo was an oil and gas pipeline company; Ya-zoo’s pipelines transported Sterling’s and other companies’ oil and gas to…