The U.S. Bankruptcy Court approved EV Energy Partners’ Disclosure Statement and concurrently confirmed its First Modified Joint Prepackaged Chapter 11 Plan of Reorganization. According to documents filed with the Court, “On the Effective Date, Debtors EVEP, EV Management, and EV Energy GP shall be dissolved without the need for any approvals, authorizations, or consents (provided that, subject in all respects to the terms of this Plan, the Reorganized Debtors shall have the power and authority to take any action necessary to wind down and dissolve the foregoing Debtors, and shall: (a) file a certificate of dissolution for such Debtors, together with all other necessary corporate and company documents, to effect such Debtors’ dissolution under the applicable laws of their states of formation; and (b) complete and file all final or otherwise required federal, state, and local tax returns and shall pay taxes required to be paid for such Debtors, and pursuant to section 505(b) of the Bankruptcy Code, request an expedited determination of any unpaid tax liability of any such Debtors or their Estates for any tax incurred during the administration of such Debtor’s Chapter 11 Case, as determined under applicable tax laws).”
Read more bankruptcy news.
The post EV Energy Partners Disclosure Statement Approved, Plan Confirmed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.