Bonanza Creek Energy Bankruptcy Plan Filed


Bonanza Creek Energy filed with the U.S. Bankruptcy Court a Second Amended Joint Prepackaged Plan of Reorganization.

According to the Amended Plan, ” In addition, upon the Effective Date, all awards authorized by the Board under the STIP that have not been paid prior to the Effective Date shall be paid to the applicable award recipients, and with respect to awards granted prior to the Petition Date under Bonanza Creek’s Amended and Restated 2011 LongTerm Incentive Plan, effective June 4, 2015 (the ‘LTIP’), all shares that would have vested andbeen distributed, according the terms of such awards, at any time during the period from the Petition Date through the Effective Date, shall be deemed to have been distributed immediately prior to the Effective Date and be Existing Equity Interests under the Plan; provided that, for the avoidance of doubt, nothing in this Plan shall have the effect of accelerating payments under the STIP or the vesting or distribution of shares under the LTIP.”

The Debtors also filed an amended Schedule 9.2(b): executory contracts and unexpired leases to be rejected.

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