Azure Midstream Partners filed with the U.S. Bankruptcy Court a First Amended Joint Plan of Liquidation and related Disclosure Statement.
According to the disclosure statement, “On the Effective Date, the Lender Claims are allowed as Secured Claims having first lien priority in the amount of $177,904,000 on account of unpaid principal, accrued and unpaid interest, letters of credit obligations…pursuant to the Prepetition Credit Agreement, any other Prepetition Loan Documents or the Cash Collateral Order, in each case…the Debtors and their Estates may be entitled to assert against the Prepetition Secured Lenders or the Lender Claims.…The Debtors estimate that on the Effective Date approximately $821,000 in General Unsecured Claims will remain outstanding. On the Effective Date, or as soon thereafter as is reasonably practicable, except to the extent that a holder of an Allowed General Unsecured Claims agrees to less favorable treatment of such Allowed General Unsecured Claim or has been paid before the Effective Date.” The Court adjourned the hearing to May 1, 2017 from April 26, 2017 to consider the disclosure statement.
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