I have received mail about several various lawsuits and settlements throughout the years. Being fairly inexperienced, I have generally not taken any action or done any research.
This time, however, I received mail involving a company I currently receive payments from. The information is here: https://www.haycreek-mewbourne.com/
My question is: Does my participation in this (rather, lack of exclusion) come with any negative consequences in regards to my relationship with this company or any future oil business? Is there anything else I should be aware of before doing nothing?
In most cases, you do not have to do anything, but that can differ by state. Read the documents carefully and find out if you need to file a claim. In most cases, the royalty owners are a preferred class and they will keep on getting paid. You may want to file a claim, just to feel that you have “dotted all the i’s”. (not giving legal advice). I have been passively a part of many settlements over the years. One wants a company to come out of bankruptcy stronger or get bought out by another stronger company so that business can continue and royalty owners and creditors paid fairly.