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Third Circuit Rules That Downstream Purchasers Take Free Of Producers’ Statutory Oil & Gas Liens

LexisNexis (August 23, 2017, 12:58 PM EDT) -- On July 19, 2017, the Court of Appeals for the Third Circuit issued the latest (and perhaps last) ruling from the massive SemCrude bankruptcy concerning owner/producer lien rights and buyer take-free rules. In re Semcrude L.P., 2017 U.S. App. LEXIS 12975 (3d Cir. July 19, 2017). Following review in a “related-to” bankruptcy proceeding, the Third Circuit affirmed the summary judgment issued by the bankruptcy court and district court, further solidifying the law concerning the competing rights of owners, producers, first purchasers, and downstream purchasers of oil...
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