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Abengoa Bankruptcy Liquidation Plan Effective

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Abengoa Bioenergy US Holdings’ Third Amended Joint Plans of Liquidation became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on June 8, 2017.

BankruptcyData’s detailed Plan Summary notes, “Abengoa, S.A. also agreed in the Master Restructuring Agreement to implement plans of liquidation with respect to Non-Go Forward Chapter 11 Companies, which include the Debtors, Abengoa Bioenergy US Holding, LLC, in these Chapter 11 Cases.” In addition, “Under the Plan, Bioenergy Debtor Group General Unsecured Claims will receive its pro rata share of the Bioenergy General Unsecured Claims Fund, except to the extent that a Holder of an Allowed General Unsecured Claim has been paid prior to the Effective Date or agrees to a less favorable classification and treatment, for a 30.7% rate of recovery.”

This renewable energy ethanol plant operator filed for Chapter 11 protection on February 24, 2016, listing $648 million in pre-petition assets.

Visit BankruptcyData for the full Abengoa Plan Summary.

The post Abengoa Bankruptcy Liquidation Plan Effective appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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