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Horsehead Holding Plan Confirmed

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The U.S. Bankruptcy Court confirmed Horsehead Holdings’ Second Amended Joint Plan of Reorganization with technical modifications.

As previously reported, “On the Effective Date, Reorganized Horsehead shall issue New Common Equity (1) Holders of Secured Notes Claims and Unsecured Notes Claims; and (2) to the applicable Plan Sponsors pursuant to the Plan and the UPA. On the Effective Date, the Additional Capital Commitment Participants and Reorganized Horsehead shall be bound by the purchase obligation and issuance obligations, respectively, with respect to the Additional Capital Commitment Units, in each case, pursuant to the terms of the UPA. On the Effective Date, the New Limited Liability Company Agreement shall be adopted by Reorganized Horsehead and shall be deemed to be valid, binding and enforceable in accordance with its terms, and each holder of New Common Equity shall be fully bound thereby in all respects.”

This zinc and nickel-based products’ producer filed for Chapter 11 protection on February 2, 2016, listing $9.8 billion in pre-petition assets. Read more Horsehead bankruptcy news.

The post Horsehead Holding Plan Confirmed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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