ATP Oil & Gas Corp fka ATPAQ

[rockraider3]

The notice of appeal is actual #2109... Although the Emergency Motion #2111 is where all of the meaningful arugment is found.

I see what you are pointing out in A (16), and I can see what you are driving at in where Anadarko says they must maintain the status quo that existed prior to the Abandonment Order:

As courts in this jurisdiction have noted, the importance of granting a stay pending appeal is to ensure that the scope of appellate review is not limited. See, e.g., Pettway v. Am. Cast Iron Pipe Co., 411 F.2d 998, 1003 (5th Cir. 1969) (noting that the Court’s power to issue an injunction pending appeal is broad and that “there was a need for the Trial Court to maintain the status quo and thus avoid the possibility that [the relief sought in the trial court] might become moot as to [appellant]”); J. Weingarten, Inc. v. Potter, 233 F. Supp. 833, 838-39 (S.D. Tex. 1964) (holding that if it did not issue an injunction “plaintiff’s prevailing on appeal would gain it a hollow victory indeed, one of mere academic interest, for the activity of which it complains would have long since occurred”). Here, the Court should maintain the status quo as it existed prior to entry of the Abandonment Order to prevent Anadarko’s appeal from becoming moot.

However, in my review of the document, I did not once note any argument or comment that alluded that the above meant to Stay the sale of assets to the credit bid. Did they say that anywhere? I don't see it. So I think, even though the above bolded comment could be construed to mean to Stay the Sale of Assets, that Anadarko probably is simply driving at a Stay of the Abandonment of Gomez. This way they keep the Debtor on the hook for wind-down costs -- particularly if there is some sort of netfall from the BP litigation. Anadarko just wants to avoid having to pick up the tab for this.

Anyway, it's a fascinating find, but I'm not very hopeful that this will impact the Asset Sale. If it doesn't, and if Anadarko is successful in Staying the Gomez Abandonment, the would be bad for the estate. I guess what I'm saying is that this is a needle to be threaded.

Either way, the best part is that the emergency motion is set to be heard tomorrow. So it's not like we have to wait a month before resolution. That's nice.