Camisha Simmons published an article on Law360 on May 14, 2015 titled “Rejection of Oil and Gas Leases May Prove Futile”

The oil and gas industry is experiencing uncertainty due to the depressed and fluctuating price of crude oil. Many companies in the industry may soon be forced into bankruptcy. Bankruptcy cases involving oil and gas assets present a number of complex issues. One such issue often litigated is the proper characterization of the nature of oil and gas lease interests.

The characterization of an oil and gas lease is of critical importance in bankruptcy because it determines whether or not the debtor-in-possession or trustee (“debtor”) may dispose of the interest under section 365 of the Bankruptcy Code.

This article discusses (i) assumption and rejection of oil and gas leases under section 365 of the Bankruptcy Code, in general; (ii) the protection provided for lessees’ interests in oil and gas leases that are considered “leases of real property;” and (iii) cases which highlight the futility of a debtor lessor’s rejection of an oil and gas lease that is characterized as a “lease of real property.”  Read more:  http://www.law360.com/projectfinance/articles/653737/rejection-of-oil-and-gas-leases-may-prove-futile

Camisha Simmons’ latest article titled “Bankruptcy Court Orders Bank to Disgorge Over $1.5 Million for Allowing Account Overdrafts” was published on Law.com

The article discusses a recent decision of the United States Bankruptcy Court for the Northern District of Iowa serves as a reminder that banks should proceed with caution when relaxing bank procedures to appease large account holders.  In the bankruptcy case Sarachek v. Luana Savings Bank (In re Agriprocessors, Inc.), the court ordered a bank to disgorge over $1.5 million for allowing repeated account overdrafts, which the chapter 7 bankruptcy trustee successfully argued were essentially short-term loans made to the debtor by the bank prior to the bankruptcy filing.  Read more: http://www.law.com/sites/camishasimmons/2015/05/10/bankruptcy-court-orders-bank-to-disgorge-over-1-5-million-for-allowing-account-overdrafts/