T&K Mentioned in Law360 on OHA Investment Corp. Victory at Fifth Circuit Court of Appeals

The Fifth Circuit on Tuesday rejected an attempt by creditors of bankrupt ATP Oil and Gas Corp. to collect on liens from the current owner of ATP’s offshore royalty rights, saying that while state law allowed the liens, it also contained a provision shielding the new owner.

In a published opinion, the panel agreed with the lower courts that the Louisiana law in dispute allowed the former ATP contractors and suppliers to assert liens against the offshore oil and gas royalty interests the company sold to OHA Investment Corp. before its 2012 bankruptcy, but also agreed with their findings that the same law contains a safe harbor provision that shields OHA from the creditors’ claims.

…OHA is represented by Tye C. Hancock, Mitchell E. Ayer, Richard B. Phillips, Jr. and David M. Bennett of Thompson & Knight LLP.