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Permalink Reply by adubu on April 13, 2013 at 7:46

Andrew--JHH----BANKRUPTCY   (This is copied from Texas RRC website)----If royalty owners is not being paid he must file a claim with court-- you must have a lawyer to help you ASAP--- You are a unsecure creditor you will need to file a Lien on the well/property of your lease identified by your DO and operator------- IF YOUR LEASE HAS BEEN SOLD TO ANOTHER OPERATOR THEN YOU OK FOR NEW OPERATOR TAKES OVER AND WILL CONTINUE TO PAY YOU YOUR ROYALTY> WHICH I UNDERSTAND GMX HAS SOLD MANY OF THEIR PROPERTIES

If an operator with whom you are involved has declared bankruptcy, there will   be a bankruptcy case pending in a federal bankruptcy court. There are many bankruptcy   courts in Texas, divided into four main districts. A court-appointed trustee   generally will be in charge of handling the bankruptcy. Your claims and complaints   should be addressed to the trustee. The bankruptcy case most likely will be   pending in a court nearest the principal office of the business. The clerk of   the bankruptcy court can give you further information.

The Northern District includes Abilene, Amarillo, Dallas, Fort Worth, Lubbock,   San Angelo, and Wichita Falls:

Clerk, U.S. Bankruptcy Court 1100 Commerce St., Room 14-A-7   Dallas, Texas 75242

(214) 767-0814

The Eastern District includes Beaumont, Lufkin, Marshall, Paris, Sherman, Texarkana,   and Tyler:

Clerk, U.S. Bankruptcy Court 211 West Ferguson Tyler, Texas   75702

(903) 592-1212

The Southern District includes Brownsville, Corpus Christi, Galveston, Houston,   Laredo, and Victoria:

Clerk, U.S. Bankruptcy Court 515 Rusk, Room 4603 Houston, Texas   77002

(713) 250-5500

The Western District includes Austin, Del Rio, El Paso, Midland, Pecos, Waco,   and San Antonio:

Clerk, U.S. Bankruptcy Court P.O. Box 1439 San Antonio, Texas   78295

(210) 229-6720

Permalink Reply by JHH on April 13, 2013 at 8:03

abudu:  very helpful!  it's a mess isn't it!

jhh

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Permalink Reply by adubu on April 13, 2013 at 13:12

JHH--Yep it a mess --hope this info helped--- but for all that reads this it is just that ---"some information and not Absolute legal facts" simply some info to go on - if royalty owners checks stop and not paid -- then visit a knowledgeable Attorney who deals with oil & gas royalties when their operator files Bankruptcy---if they sell the wells and leases and another operator takes over and check pay royalty per your DO then I think you are ok and continue on down the road of life

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Permalink Reply by JHH on April 13, 2013 at 14:07

adubu:  I have a thought... not sure i have the resources to pursue.  If a royalty check bounces... couldn't that be considered as a lease violation and cause it to be null and void.  Just a thought.  jhh

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Permalink Reply by tc on April 13, 2013 at 14:30

Another outcome is that the bankruptcy judge allows the company to do away with lease obligations that are harmful to the company and beneficial to you the landowner.  Ever heard of union busting thru bankruptcy.  Bankruptcy judges have almost absolute power.  The good thing is that GMXR isn't like ENRON, which was an accounting house of cards.

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Permalink Reply by adubu on April 13, 2013 at 16:59

JHH--if check bounced and royalty not paid and well continue production yes you would think that may violate lease but that a question only Attorney can answer for you. If that happen ask for legal help with attorney. For us to answer with only our opinions these type questions with unqualified credentials would only be for "what If" Games and not in members of site best interests who reads these post for help. They could get bad info.

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Permalink Reply by JHH on April 14, 2013 at 4:02

abdu:  you're right. just wondering.  will ask attorney.  but i'm thinking the answer will be.. how long do you want to fight and how much money do you want to spend on a case that might not be resolved in my favor.   we'll see. thanks, jhh

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Permalink Reply by adubu on April 14, 2013 at 4:26

JHH --- are you no longer receiving your monthly royalty payment?

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Permalink Reply by JHH on April 14, 2013 at 12:42

i received one last month.  but i know some people whose check bounced.

jhh

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Permalink Reply by JHH on April 14, 2013 at 12:44

just got a letter from East Texas Exploration which said it purchased the Cotton Valley wells held by GMX... and said i'd be paid by them for those wells for now on... i guess until they sell them. 

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Permalink Reply by adubu on April 14, 2013 at 13:12

JHH -- you have any thing deeper than CV that is HBP or depth Pugh clause in your lease or all depth HBP by the CV. If all your leases sold then you have new operator and they will have to honor your lease language and DO. If you getting paid by new operator then you have no problem and nothing to do other than review your check and make sure all if any deduction same as with GMX and your decimal interest correct. If all checks out correct bank it and go on down road but always monitor every check. I have one unit that has been sold to different operator 4 times in last 11years. Every time checks continued correctly. It's good deal that GMX sold your lease and wells so you are out of Bankruptcy problem with new operator

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Permalink Reply by JHH on April 14, 2013 at 13:38

adubu:  i don't expect any problems.  You you gotta watch them like a hawk!  jhh

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