Early in 2014, the Bankruptcy Court for the Southern District of Texas held that interests that facially meet the requirements for overriding royalty interests (and therefore have a particular preferred status under the Bankruptcy Code) can be recharacterized as financings, and therefore outside the scope of that protection. NGP Capital Resources Company vs. ATP Oil & Gas Corp. (In re ATP Oil & Gas Corp.).; Case No. 12-03443 (Bankr., S.D. Tex. January 6, 2014).