Rentech filed with the U.S. Bankruptcy Court an Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation, which explains, “This Combined Plan and Disclosure Statement constitutes a liquidating chapter 11 plan for the Debtors and provides for the Distribution of the Debtors’ assets already liquidated or to be liquidated over time to the Holders of Allowed Claims and Allowed Equity Interests in accordance with the terms of this Combined Plan and Disclosure Statement and the priority of claims provisions of the Bankruptcy Code.”
In addition, “Pursuant to this Combined Plan and Disclosure Statement, the proceeds of the Non-Debtor Subsidiary Sales and the Atikokan Sale will be used to satisfy Allowed Administrative Expense Claims, Allowed Priority Tax Claims, Allowed Fee Claims, Allowed DIP Financing Claims, if any, Allowed Secured Claims, Allowed Priority Non-Tax Claims, and Wind-Down Expenses in full. Distributions on account of Allowed Administrative Expense Claims will be made by the Debtors or the Post Effective Date Debtors on the Effective Date or as soon thereafter as is practicable by the Post Effective Date Debtors or the Liquidation Trustee, and Distributions on account of all other Allowed Claims or Allowed Equity Interests will occur each time the Rentech Liquidation Trust’s Cash reserves exceed the Cash Balance Threshold of $5,000,000 or such lesser amount as determined in the discretion of the Liquidation Trustee.”
The Court scheduled an April 4, 2018 hearing to consider the Combined Plan, with objections due by March 28, 2018.
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