Berenergy filed with the U.S. Bankruptcy Court an objection to Peabody Energy’s Joint Plan of Reorganization. The objection explains, “Berenergy objects to the Plan and Disclosure Statement on two grounds: first, the Disclosure Statement fails to discuss the material risks to a successful reorganization created by the pending litigation between Berenergy and Peabody, and second,…

The U.S. Bankruptcy Court approved Samson Resources’ settlement by and between the Debtor and Continental Resources. As previously reported, “The Settlement generally provides, upon the entry of a final order approving the Settlement: Continental shall withdraw its Proof of Claim and pay Samson an aggregate amount of $1,833,631.96 on account of the following: $1,734,395.64 on…

Certain LINN Energy shareholders filed with the U.S. Bankruptcy Court separate motions for appointment of an official committee of equity security holders. LINN Energy Shareholder Group also released the following statement: “A recent reorganization plan by Linn Energy has shareholders objecting, believing the plan undervalues shareholder equity by at least $4.7 Billion. In court documents…

The U.S. Bankruptcy Court approved BioNitrogen Holdings’ fifth motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including January 30, 2017 and March 30, 2017, respectively. As previously reported, “[W]hile the size of this case is not large, the intellectual property that…

The U.S. Bankruptcy Court approved Performance Sports Group’s motion for the sale of property free and clear of liens, approving the asset purchase agreement (APA) with Saverio Michielli (Owner) and a corporation to be incorporated by Saverio Michielli (Buyer) for the assets of the Debtors’ soccer uniform business. As previously reported, “The Debtors entered into…

Louisiana Department of Revenue (LDR) filed with the U.S. Bankruptcy Court an objection to Stone Energy’s Second Amended Joint Prepackaged Plan of Reorganization. The objection explains, “LDR object to the priority tax claim treatment at page 14-15 of the Plan because it fails to specify the frequency of payments which will be made once a…

BankruptcyData’s detailed analysis and summary of Caesars Entertainment Operating Company’s Third Amended Joint Plan of Reorganization (Modified), dated January 13, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on January 17, 2017; however, an effective date has not yet been issued. BankruptcyData notes, “The proposed Plan achieves a complicated but tax-efficient corporate…

The U.S. Bankruptcy Court issued an order denying Mangrove Partners Master Fund’s motion for an order appointing an official committee of equity security holders to the Peabody Energy case. As previously reported, Mangrove Partners Master Fund had argued, “It is critical that the equity holders of Peabody be given a fair opportunity to demonstrate that…

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