At The Podium
Environmental Claims in Bankruptcy
A large number of oil and gas companies have already filed for bankruptcy protection in the last year, and more filings are expected. People often ask what happens to environmental liabilities following a bankruptcy filing, and how does bankruptcy impact regulatory compliance obligations?
While speaking at the Environmental Federation of Oklahoma’s 25th Annual Meeting and Trade Show titled “25 Years of Environmental Law, Policy and Politics – Where Do We Go From here,”, McAfee & Taft environmental attorney Matt Paque discusses why many environmental obligations and liabilities, including certain administrative orders and injunctions requiring cleanup of pollution conditions, may not be discharged through bankruptcy and how these liabilities will directly affect whether a company can successfully emerge from bankruptcy.