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Vanguard Natural Resources Continuation Sought

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Vanguard Natural Resources’ ad hoc equity creditors’ committee filed with the U.S. Bankruptcy Court an emergency motion to set a status conference on the Debtor’s Disclosure Statement and to continue the May 30, 2017 Disclosure Statement hearing.

The motion explains, “As of the filing of this Motion, the Debtors still have not filed an amendment to the fatally flawed Disclosure Statement or an amended plan. The Debtors continuously have informed this Court and other parties-in-interest that an amended disclosure statement and amended plan will be filed. The Equity Committee has heard this same refrain for weeks. Yet, to date, nothing has been filed. If the Debtors file their amended disclosure statement sometime today (which is unlikely), the Equity Committee will have less than 48 hours to digest what is expected to be a significant re-write of the document, communicate with its members, and file its objection, while at the same time preparing for the hearing on May 30, 2017 – one week away and over a holiday weekend.”

In addition, “The Equity Committee requests that the Court set a status conference and continue the hearing on the Disclosure Statement and the Solicitation Procedures Motion to a date that is at least 28 days after the Debtors actually file their amended disclosure statement and plan.”

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