BankruptcyData’s detailed analysis and summary of Nuverra Environmental Solutions’ Modified Amended Prepackaged Plan of Reorganization, dated June 23, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on July 25, 2017; however, an effective date has not yet been issued.
BankruptcyData notes, “The Debtors believe that the Plan reflects an appropriate resolution of all Claims against and Equity Interests in the Debtors, and is in the best interests of the Debtors and their estates, taking into account the differing nature and priorities of such claims and interests. By substantially deleveraging the Debtors’ balance sheets, the Plan also provides a foundation for future growth and profitability….Class B7 – General Unsecured Claims will receive payment in cash or otherwise treated in a manner to render Unimpaired such AWS Debtor General Unsecured Claim, for a 100% rate of recovery.”
BankruptcyData’s Plan Summary continues, “The Valuation Analysis estimates that the total reorganization value range of the Reorganized Debtors to be between $270 million and $335 million, with a midpoint of approximately $302.5 million, as of an assumed Effective Date of June 30, 2017. Based upon the assumed range of the reorganization value of the Reorganized Debtors of between $270 million and $335 million and assumed net debt of approximately $40 million, the Valuation Analysis estimates the range of equity value for the Reorganized Debtors between approximately $230 million and $295 million, with a midpoint estimate of $262.5 million.” BankruptcyData subscribers receive access to the full summary, which provides further details on corporate background, events leading to Nuverra Environmental Solutions’ May 1, 2017 Chapter 11 filing, recovery specifications and a comprehensive break-down of all claimant classes.
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