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Case 09-11899

Doc 1140

Filed 09/05/12 Entered 09/05/12 18:46:31 Page 1 of 3

Main Document

UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF LOUISIANA IN RE: VIRGIN OIL COMPANY, INC. DEBTOR CASE NO. 09-11899 CHAPTER 11 SECTION A

ROBERT FULTON SMITH, JRS OPPOSITION TO OBJECTION TO CLAIM NOS. 101 AND 102 FILED BY VIRGIN OIL COMPANY, INC. PLAN TRUST For the following reasons, Robert Fulton Smith, Jr. opposes the relief sought by the Virgin Oil Company, Inc. Plan Trust (Plan Trust) in its Objection to Claim No. 101 (Objection): I. Background 1. On June 25, 2009, various creditors of Virgin Oil Company, Inc. (Virgin Oil) filed an involuntary petition against Virgin Oil for relief under Chapter 7 of the Bankruptcy Code. On August 26, 2009, upon the motion of Virgin Oil, the case was converted to Chapter 11. 2. On March 12, 2010, this Court issued an order setting May 3, 2010 as the bar date for filing proofs of claim related to pre-petition claims (Docket No. 310). 3. On August 22, 2011, the Official Committee of Unsecured Creditors of Virgin Oil Company, Inc. and various other individuals and entities filed suit against Smith, the other former officers and directors of Virgin Oil Company, Inc. and Virgin Offshore USA, Inc., and against Virgin Offshore USA, Inc., alleging various breaches of fiduciary duty and negligence. 4.

Case 09-11899

Doc 1140

Filed 09/05/12 Entered 09/05/12 18:46:31 Page 2 of 3

Main Document

On March 9, 2012, Smith filed Claim No. 101, seeking indemnity for his expenses in defending against the lawsuit described above. Claim No. 101, attached hereto as Ex. A. 5. The lawsuit described above is ongoing, and no judgment has been rendered therein. II. Response 6. Smith does not dispute the Courts jurisdiction over the Objection. 7. Smith admits the allegations of paragraph 2 of the Objection. 8. Smith admits the allegations of paragraph 3 of the Objection. 9. Smith admits the allegations of paragraph 4 of the Objection. 10. Smith denies the allegations of paragraph 5 of the Objection as written. 11. Smith denies the allegations of paragraph 6 of the Objection as written. 12. Smith denies the allegations of paragraph 7 of the Objection. 13. Smith denies the allegations of paragraph 8 of the Objection. 14. Smith denies the allegations of paragraph 9 of the Objection.

Case 09-11899

Doc 1140

Filed 09/05/12 Entered 09/05/12 18:46:31 Page 3 of 3

Main Document

15. Smith denies the allegations of paragraph 10 of the Objection. 16. Smith denies the allegations of paragraph 11 of the Objection. 17. Smith denies the allegations of paragraph 12 of the Objection. 18. Paragraph 13 is a reservation of rights and requires no answer. 19. Smith reserves the right to amend or supplement this objection prior to the September 12, 2012 hearing date. Due to damage from Hurricane Isaac, counsel for Smith has been unable to fully prepare this Opposition up to the present date. WHEREFORE, Smith prays that the Plan Trusts Objection to Claim No. 101 be disallowed and his claim be recognized as an allowed General Unsecured Claim according to the confirmed Chapter 11 Plan in this case and for all other relief appropriate herein. Respectfully submitted, /s/ Paul E. Bullington________ Guy E. Wall (#7718) Paul E. Bullington, T.A. (#14109) Jonathan R. Cook (#25629) Wall, Bullington & Cook, LLC 540 Elmwood Park Blvd. New Orleans, LA 70123 (504) 736-0347 (Phone) (504) 734-8574 (Fax) Attorneys for Robert Fulton Smith, Jr.