Ultra Petroleum’s ad hoc committee of unsecured creditors, ad hoc committee of Holdco noteholders and ad hoc equity committee filed with the U.S. Bankruptcy Court separate objections to Ultra Petroleum’s motion for an order (i) appointing a Chapter 11 trustee or (ii) in the alternative, appointing independent directors to the Company’s board. The ad hoc…

The U.S. Bankruptcy Court approved Violin Memory’s key employee incentive plan (KEIP) and payment of a bonus. As previously reported, “The Debtor seeks to implement the KEIP for three (3) noninsider employees (the ‘KEIP Participants’) to pursue sales and marketing of the Debtor’s products and services. The KEIP Participants have unique and specialized knowledge and…

Perseon’s 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 28, 2016. BankruptcyData’s detailed Plan Summary notes, “The Debtor believes that the Plan provides the best and most prompt possible recovery to Holders of Claims and Interests. On and after…

The U.S. Bankruptcy Court approved LINN Energy’s motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including April 16, 2017 and June 15, 2017, respectively. As previously reported, “A hearing on the confirmation of the Amended LINN Plan and the Amended Berry…

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