Among other things, we will be discussing the proposed Class Settlement in the Demchak Partners case, and the other altnernatives available to royalty owners. The Court has issued an Order preliminarily approving the settlement, and has set DECEMBER 17, 2015 as the DEADLINE for members of the Settlement Class to submit any requests to be excluded from the Settlement Class, or any objections or comments to the proposed Class Settlement.
- Are you part of the Settlement Class? The proposed Class Settlement does not apply to all Chesapeake royalty owners – only to those who receive royalties under an oil and gas lease that contain a “Market Enhancement Clause.” Does your lease contain a Market Enhancement Clause?
- If so, what would you receive as a result of the proposed Class Settlement? What would you be giving up in return?
- What are your alternatives?
- What are your deadlines to opt-out of the Settlement Class, or to file objections or comments to the proposed Class Settlement?
- What happens if you do nothing?
- How do you "opt-out" of the Class Settlement?
- What does it mean for for the Court to "preliminarily approve" the Class Settlement?
- Finally, what if you are NOT part of the Settlement Class? What can YOU do to protect and enforce YOUR rights and interest? Are there any time deadlines applicable to your potential royalty claims?
We also want to be sure that the many Chesapeake royalty owners who are NOT members of the Settlement Class understand the alternatives available to them to protect and enforce their rights, and the deadlines they face.
Keep an eye on this page for more information.