White Energy Ch. 11 Plan Confirmed

Law360, New York (July 16, 2010, 5:44 PM EDT) -- A judge has signed off on White Energy Inc.'s third amended plan of reorganization, paving the way for the bankrupt ethanol maker to emerge from Chapter 11 restructuring.

Judge Christopher C. Sontchi approved the reorganization plan in the U.S. Bankruptcy Court for the District of Delaware on Friday. The company filed its third amended plan Tuesday.

Under the confirmed plan, all holders of allowed general unsecured claims will receive a distribution regardless of whether they vote in favor of the plan.

Previously, distributions were limited to...
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