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Oak Point Partners, LLC acquires remnant assets of the MPC Plan Trust of the Mississippi Phosphates Corporation, et al., Bankruptcy Estates

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November 27, 2018 – Oak Point Partners acquired the remnant assets of the MPC Plan Trust of the Mississippi Phosphates Corporation, et al., Bankruptcy Estates in November 2018. On October 27, 2014, Mississippi Phosphates and its affiliates each filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Mississippi, jointly administered under Case No. 14-51667. Thereafter, the Court confirmed a Chapter 11 Plan, pursuant to which the Trust was created and a Trustee was appointed and vested with the power and duty to administer the remaining assets of the debtors.

About Mississippi Phosphates

Mississippi Phosphates was a producer and marketer of diammonium phosphate, a common type of phosphate fertilizer. Plants were strategically placed so they had direct access to the Gulf of Mexico. The company employed approximately 250 people at the time of the bankruptcy.

Mississippi Phosphates also operated under several trade names including Mississippi Phosphates Corporation, Ammonia Tank Subsidiary, Inc., and Sulfuric Acid Tanks Subsidiary, Inc.

The former headquarters of Mississippi Phosphates was located in Pascagoula, MS. The company also had a corporate address in Madison, MS.

The post Oak Point Partners, LLC acquires remnant assets of the MPC Plan Trust of the Mississippi Phosphates Corporation, et al., Bankruptcy Estates appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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