This course is no longer available for credit on our site. Here are some similar courses you might be interested in:

Impact of Chapter 11 on Gathering Agreements and Real Covenants

Produced on: July 20, 2016

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 62 minutes
Difficulty Intermediate

In a number of recent chapter 11 cases filed by “upstream” energy and production companies, disputes have arisen following the debtor’s decision to reject “gathering agreements” or similar contracts with “midstream operators” containing “covenants that run with the land.” These disputes generally turn on whether the parties to the gathering agreements satisfied state law requirements for creating covenants that run with the land at the time the agreements were executed. If all applicable requirements were not satisfied, a debtor likely will be permitted to shed all burdensome covenants under the gathering agreement and limit the rights and remedies of the midstream operator to unsecured damages claims resulting from rejection of the contract.

This course, presented by John J. Rapisardi and Joseph Zujkowski of O’Melveny & Myers LLP, provides a helpful overview of gathering agreements, covenants that run with the land, and recent chapter 11 cases (including Sabine) where disputes have arisen between a midstream operator and an upstream operator stemming from the debtor’s rejection of a gathering agreement. The necessary background on key legal issues will be provided to ensure that this course is valuable to those with all levels of experience in the distressed debt and oil and gas sectors. 


Learning Objectives:

  1. Understand key issues in structuring gathering agreements for midstream operators
  2. Review recent chapter 11 cases, including Sabine, where a debtor has attempted to shed its obligations under a gathering agreement
  3. Understand best practices for advising parties to gathering agreements in advance of and during a chapter 11 filing

Faculty

John J. Rapisardi

O'Melveny & Myers LLP

John J. Rapisardi, Co-Chair of the Firm’s Global Restructuring Practice, has 30 years of domestic and international debtor and creditor restructuring experience across a variety of industries, including automotive, casinos, chemical, health care, retail, real estate, satellite, sports franchises, textile and telecommunications.

Consistently recognized  as one of the leading restructuring lawyers in the US, Chambers USA has recently described John as a “tremendous lawyer” who is “well regarded in the industry” and praises his approach to both company and creditor-side transactions as “very measured, smart, diligent and thoughtful.” For his representation of the US Treasury Department in the Chrysler, General Motors and Delphi restructuring, Chambers USAdescribed John as a “go-to attorney on behalf of the US Treasury.”

Joseph Zujkowski

O'Melveny & Myers LLP

Joseph Zujkowski represents debtors and creditors in in-court and out-of-court restructurings. Recently recognized as Super Lawyers “Rising Star,” Joseph has extensive experience in restructurings across a variety of industries, including automotive, gaming, energy, healthcare, real estate, and telecommunications. Joseph is also an adjunct professor at Cardozo School of Law and a regular author on restructuring topics.

Reviews

JB
Julie A. B.

Program provides clear, concise, and practical information. Appreciate the supplemental materials - John J. Rapisardi & Joseph Zujkowski, ‘In re Sabine’: Gathering Agreements and Real Covenants, Vol. 255, No. 109, N.Y. Law J. (June 8, 2016).

FK
Frank K.

Excellent presentation on a very arcane subject

Load More

Accreditation

Get Unlimited Access to Lawline Courses

Unlimited CLE Subscription gives you access to take almost any course from our catalog and earn as much CLE credit as you need.