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Atna Resources Plan Confirmed

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The U.S. Bankruptcy Court approved Atna Resources’ Amended Chapter 11 Plan of Liquidation.

According to documents filed with the Court, “Holders of administrative claims and holders of priority tax claims shall be paid in full; holders of priority non tax claims shall receive payments solely from the assets of the specific Debtor’s estate against which the allowed priority nontax claim is filed; holders of Waterton secured claims shall receive nor retain any property or distributions; holders of secured claims shall receive (i) receipt of the collateral securing any such allowed secured claim on the effective date or as soon thereafter as reasonably practicable or (ii) such other treatment that renders an allowed secured claim unimpaired; holders of general unsecured claims against Atna Resources Ltd shall receive in full and final satisfaction of such allowed general unsecured claim its pro rata share of the liquidating trust fund assets attributable to such Debtor pursuant to one or more distributions; holders of general unsecured claims against Canyon Resources Corporation shall receive in full and final satisfaction of such allowed general unsecured claim, its pro rata share of the liquidating trust fund pursuant to one or more distributions.”

In addition, “[H]olders of general unsecured claims against CR Briggs Corporation shall receive in full and final satisfaction of such allowed general unsecured claim its pro rata share of the liquidating trust fund pursuant to one or more distributions; holders of general unsecured claims against CR Montana Corporation shall receive in full and final satisfaction of such allowed general unsecured claim its pro rata share of the liquidating trust fund pursuant to one or more distributions; holders of general unsecured claims against CR Kendall Corporation shall receive in full and final satisfaction of such claim its pro rata share of the liquidating trust fund pursuant to one or more distributions; holders of general unsecured claims against Atna Resources Inc. shall receive in full and final satisfaction of such allowed general unsecured claim its pro rata share of the liquidating trust fund pursuant to one or more distributions; holders of equity interests shall neither receive nor retain any property under the Plan; on the effective date equity interests shall be deemed cancelled.”

This precious metals’ developer filed for Chapter 11 protection on November 18, 2015, listing $96 million in pre-petition assets.

Read more Atna Resources bankruptcy news.

The post Atna Resources Plan Confirmed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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