Featured Book

DeathbyWrongfulAct

Energy Capital Buying All Chieftain Sand's Assets for $5 Million

Thursday, 12 January 2017 07:15
Rate this item
(0 votes)

Chieftain Sand and Proppant, LLC, and Chieftain Sand and Proppant Barron, LLC, ask the U.S. Bankruptcy Court for the District of Delaware to authorize the bidding procedures in connection with the sale of substantially all assets to Energy Capital Partners Mezzanine Opportunities Fund A., L.P. for (i) $5,000,000, plus (ii) an amount in cash sufficient to pay and used to pay in full all Obligations owing under and as defined in, the DIP Credit Agreement, plus (iii) an amount in cash equal to the Undisputed Cure Costs, plus (iv) an amount in cash necessary to fund the wind-down of the Sellers' estates in accordance with the Approved Wind-Down Budget, which will not exceed $885,620, subject to higher or better competing bids.

Please log in or register to view the entire article

Login to post comments

Featured News

  • Takata Corp. et al. Proposes to Pay $47.4 Million to Key Vendors

    TK Holdings Inc. and other Takata Corp. units that have sought Chapter 11 protection are seeking approval from the U.S. Bankruptcy Court for the District of Delaware to pay $47.4 million of the $118 million owed to various third-party providers of goods and services.

    The Debtors are only seeking approval to pay the prepetition claims of "critical vendors", i.e. vendors, suppliers, service providers, and other similar parties and entities that are essential to maintaining the going concern value of the Debtors' businesses.

    Written on Tuesday, 27 June 2017 02:03 in Latest News Be the first to comment! Read 10 times Read more...