SandRidge Bankruptcy Court Denies Plan Enforcement on D&O Indemnification Discharge Claims

SandRidge Energy sought to enforce its confirmed Chapter 11 plan to bar insurers' $17 million subrogation claims against the reorganized debtor for indemnification obligations to former officers arising from federal securities class actions. Judge Isgur denied the motion, holding that because SandRidge's D&O policies and indemnification obligations were assumed under the plan pursuant to § 365, they were not discharged and remained enforceable post-confirmation.