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Ultra Petroleum Bankruptcy Plan, Exhibits Filed

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Ultra Petroleum filed with the U.S. Bankruptcy Court a Revised Second Amended Chapter 11 Plan and related Disclosure Statement.

According to the Disclosure Statement, “Notwithstanding Section 7.8 of the Plan, on the Effective Date or as soon as reasonably practicable thereafter, each holder of a Class 4 Claim shall be paid cash equal to the amount of the portion of such Claim that has been Allowed as of the Effective Date. As soon as reasonably practicable after determination by a Final Order of the Bankruptcy Court as to the Allowed amount of any other portion of such Class 4 Claim, each such holder shall be paid cash equal to the amount of such portion of such Claim that is Allowed by such Final Order.”

The Debtors also filed certain updated Disclosure Statement Exhibits: Exhibit G: rights offering procedures and Exhibit H: summary of certain key terms of exit financing agreements. The Court scheduled a March 14, 2016 hearing to consider the Plan.

Read more energy bankruptcy news.

The post Ultra Petroleum Bankruptcy Plan, Exhibits Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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