The U.S. Bankruptcy Court docket reflects a certification of counsel regarding an order authorizing the Rentech Debtors to sell the assets of the non-debtor NEWP subsidiaries.
The document notes, “Exhibit 1 is a revised form of order (the ‘Revised Order’) that authorizes the Debtors to approve the sale of non-Debtor subsidiary New England Wood Pellet, LLC. The Debtors have resolved the U.S. Trustee’s and Creditors’ Committee’s informal comments and the Creditors’ Committee’s Objection on the terms memorialized in the Revised Order.”
The revised order states, “The objection to the Motion filed by the Official Committee of Unsecured Creditors related to the NEWP APA is resolved. Nothing herein shall prejudice any party-in-interest’s rights to object to or otherwise take a position with respect to the Motion as it relates to the Fulghum APA, all of which rights are reserved in all respects. The Debtors are authorized, but not directed, to take all such corporate actions as are desirable or necessary to cause New England Wood Pellet, LLC, Schuyler Wood Pellet, LLC and Deposit Wood Pellet, LLC (collectively, the ‘Sellers’) to monetize substantially all of their assets pursuant to the NEWP APA including approving, effectuating and consummating the Sales. Debtor Rentech, Inc will not be required to obtain shareholder approval for its consent to the sale of assets by Sellers.”
Read more Rentech bankruptcy news.
The post Rentech Bankruptcy Sale Order Revised appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.