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WestMountain Gold Bankruptcy Plan Summarized

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BankruptcyData’s detailed analysis and summary of WestMountain Gold’s First Amended and Restated Joint Plan of Reorganization, dated December 20, 2016, is now available.

The U.S. Bankruptcy Court confirmed the Plan on January 10, 2017; and the Plan became effective on February 17, 2018. BankruptcyData notes, “This Plan provides for the reorganization of the Debtors under Chapter 11 of the Bankruptcy Code. The Plan provides a means through which the Debtors will restructure or repay their obligations, or a portion of their obligations. The Plan will be primarily funded from the New Capital investment in the Debtors based on debtor in possession financing provided during the case and new equity invested at the time the Plan is confirmed.”

In addition, “The combination of new financing and new equity investments will total at least $3.0 million and range up to $4.0 million.” BankruptcyData premium level subscribers receive access to the full summary, which provides further details on corporate background, events leading to WestMountain Gold’s December 30, 2016 Chapter 11 filing, recovery specifications and a comprehensive break-down of all claimant classes.

Read more WestMountain Gold bankruptcy news.

The post WestMountain Gold Bankruptcy Plan Summarized appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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