Oklahoma - Oil & Gas

摘要

Funds to Be Held in Trust by Operator for M&M Vendors Not Limited to JIB Payments; Liens Under 2010 Lien Act Do Not Have Priority over M&M Vendor Liens White Star Petroleum, LLC v. MUFG Union Bank, N.A., 2020 OK 89, was decided by the Oklahoma Supreme Court on a certified question from the U. S. B ankruptcy Court for the Western District of Oklahoma posing two questions of state law: 1. Are the "trust funds" created by Title 42 O.S. § 144.2, entitled "Creation and Appropriation of Trust Funds for Payment of Lienable Claims," limited to obligations due non-operator joint working interest owners, or do such funds include payments due holders of mechanic's and materialmen's [(M&M)] liens arising under and perfected by Title 42 O.S. § 144?