I received a notice of bankruptcy for White Star Petroleum, in the packet was a proof of claim form. This form seems directed to lien holders/creditors, not royalty owners. Is this packet mailed out in mass to White Star’s accounts payable list? I could not locate specific info on royalty owners on White Star’s bankruptcy’s web page. From looking over previous discussions, this seems to be a wait and see issue for royalty owners and no action is necessary.
For all of my other bankruptcy’s regarding royalty acres, no action was required on my part. Months and months later, I received notice of the solution and operations carry on with the first company or they sell to someone else.
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Can anyone tell me if White Star mineral interest owners must complete the “proof of claim forms?”
I’m in the same situation. I’ve contacted a lawyer in Enid. I’ll post if and when I hear back from him.
Checked with lawyer, they suggested that I submit a proof of claim, however, looking at the form it gets iffy as to whether you could jeopardize your rights by making a clerical error. Think I may contact the Corporation Commission.
There is some discussion regarding unexpired leases on pages 21 and 22 of the case document 82
The Corporation Commission’s department dealing with royalty owners rights had nothing to contribute, if I actually contacted the proper person.
I’m curious about this too. It seems filing a claim would be if I haven’t received any royalty payments. I’m not missing any. It says to contact an attorney before submitting a claim. That would cost more than what the royalties are. I just don’t want to lose any royalties I am entitled to or the mineral rights themselves.