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Entries tagged “semcrude”

Third Circuit SemCrude Decision Impacts Oil Producers and Purchasers

insights Third Circuit SemCrude Decision Impacts Oil Producers and Purchasers Douglas J. Schneller · September 4, 2017

Applying Delaware law, the United States Circuit Court of Appeals for the Third Circuit issued a ruling that will significantly affect the rights of upstream producers of oil and gas and secured creditors generally. The court determined that upstream oil producers did not have automatically perfected security interests in oil they sold prepetition to the debtors. Thus,…

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