Roust Corporation filed with the U.S. Bankruptcy Court a motion for an order (i) authorizing the Debtors to assume s restructuring support agreement (RSA), (ii) authorizing the Debtors to (a) assume a backstop agreement, (b) pay the backstop commitment fee and (c) incur certain indemnification obligations and (iii) granting related relief. The motion explains, “On…

Energy Future Holdings (EFH) filed with the U.S. Bankruptcy Court a Seventh Amended Joint Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “In the Plan, Holders of Allowed Class B6 Claims will receive their Pro Rata recovery from the EFIH Creditor Recovery Pool on account of the Allowed EFIH General Unsecured…

American Gilsonite’s First Amended Joint Prepackaged Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on December 8, 2016. BankruptcyData’s detailed Plan Summary notes, “The Plan will de-lever American Gilsonite’s balance sheet and set it on a path to emerge from bankruptcy…

Privately-held Transmar Commodity Group (f/d/b/a Transmar Group, USA) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 16-13625. The Company, which distributes grocery products, particularly cocoa trade houses, is represented by Tracy Klestadt of Klestadt Winters Jureller Southard & Stevens. In documents filed with the…

Emerald Oil filed with the U.S. Bankruptcy Court a Chapter 11 Joint Plan of Liquidation and related Disclosure Statement. The Disclosure Statement notes, “Class 2 Claims shall be Allowed in the amount of $27,678,151. Each Holder of an Allowed Class 2 Claim shall be satisfied in full by the payment by the Plan Administrator of…

Energy XXI’s Second Amended Joint Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on December 13, 2016. According to a corporate release, Energy XXI has substantially improved its financial position by eliminating more than $3.6 billion of debt from its balance…

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