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Rentech Bankruptcy Plan Confirmed

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The U.S. Bankruptcy Court issued a revised order confirming Rentech’s Second Amended Combined Disclosure Statement & Chapter 11 Plan of Liquidation [Revised].

As previously reported, “For Allowed Secured Claims that will be paid in Cash, one or more Distributions on account of such Allowed Secured Claims shall be made by the Debtors, the Post-Effective Date Debtors, or the Liquidation Trustee to each Holder of such Allowed Secured Claim on each Distribution Date (or the date on which such Claim becomes an Allowed Secured Claim), until such Allowed Secured Claims are paid in full, provided, however, that the Debtors, the Post-Effective Date Debtors, and the Liquidation Trustee shall have no obligation to make a Distribution to Holders of Allowed Secured Claims where the Debtors, the Post-Effective Date Debtors, or the Liquidation Trustee determine that to make such a Distribution would prevent them from having sufficient funds to pay Allowed Administrative Claims, and the actual and necessary costs and expenses of the Estates and the Rentech Liquidation Trust, including Wind-Down Expenses.”

This wood fibre processor filed for Chapter 11 protection on December 19, 2017, listing $312 million in pre-petition assets.

Read more Rentech bankruptcy news.

The post Rentech Bankruptcy Plan Confirmed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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