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Ultra Petroleum Disclosure Statement Approved

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The U.S. Bankruptcy Court approved Ultra Petroleum’s Disclosure Statement and scheduled a March 14, 2017 hearing to consider the Revised Second Amended Chapter 11 Plan.

According to documents filed with the Court, “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.”

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