Emerge Energy Agrees To Revisit Ch. 11 Disclosure Statement
Law360, Wilmington (September 9, 2019, 10:29 PM EDT) -- Bankrupt fracking sand miner Emerge Energy Services LP agreed Monday in Delaware to confer with the official committee of unsecured creditors in its Chapter 11 case to address concerns about the adequacy of a disclosure statement describing its proposed debt-for-equity swap.
During a hearing in Wilmington, the committee outlined a series of issues it had with the disclosure statement, including a lack of information about the value of the business, the amount of secured debt that will exist after the plan becomes effective and the reorganized debtor’s plans to continue developing mining sites in Oklahoma and Wisconsin.
U.S. Bankruptcy Judge Karen...
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