- 11 U.S.C.
In re Texas Std. Oil Corp.
Nov
12
2008
Ruling
Debtor could not assign interest in oil and gas lease for no consideration.
Procedural posture
Debtor, an oil company, filed a petition under chapter 11 of the Bankruptcy Code, and asked the court for permission to assign its interests in an oil and gas lease to a partnership (LP). The debtor's creditors filed an objection to the debtor's motion.
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Court
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