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1993-07-02_GENERAL DOCUMENTS - C1981017
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1993-07-02_GENERAL DOCUMENTS - C1981017
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Last modified
1/28/2021 11:14:04 AM
Creation date
4/30/2012 11:29:04 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
7/2/1993
Doc Name
Debtor's plan of liquidation
From
US District Court
To
Mid-Continent Resources, Inc.
Permit Index Doc Type
General Correspondence
Media Type
D
Archive
No
Tags
DRMS Re-OCR
Description:
Signifies Re-OCR Process Performed
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(iv) If both Creditors ' Representatives wish to <br /> have an individual other than Mr. LaGiglia serve <br /> as Trustee, then, unless otherwise agreed among <br /> the Trustee and the Creditor Representatives, the <br /> Trustee shall be entitled to reasonable <br /> compensation for services performed, and such <br /> compensation shall be charged Pro Rata against the <br /> distributions to Sanwa and Class 9. <br /> (v) If one but not both Creditors ' <br /> Representatives wishes to have an individual other <br /> than Mr. LaGiglia serve as Trustee, then an <br /> individual other than Mr. LaGiglia shall be <br /> selected as Trustee. In that event, unless <br /> otherwise agreed between the Creditor <br /> Representatives, the Trustee's compensation shall <br /> be charged either against the distribution to <br /> Sanwa or the distribution to Class 9, depending <br /> upon whether the Creditor Representative wishing <br /> an individual other than Mr. LaGiglia was <br /> appointed by Sanwa or by the Official Unsecured <br /> Creditors ' Committee. <br /> (vi) The Creditor Representatives shall be <br /> entitled to reimbursement of actual and reasonable <br /> expenses but otherwise shall serve without <br /> compensation. <br /> (vii) The Trustee, with the approval of the <br /> Creditors ' Representatives, may engage legal, <br /> accounting, or other services necessary to the <br /> performance of the Trustee's administration of the <br /> Creditors ' Trust. <br /> (viii) The Trustee shall report in writing to the <br /> Creditors ' Representatives quarterly regarding the <br /> Trustee's activities, or more often to the extent <br /> requested by either Creditors ' Representative. <br /> (ix) In the event of resignation of the Trustee <br /> or a Creditors ' Representative, a successor shall <br /> be selected in the same manner as the person who <br /> has resigned. <br /> 6.2. 6 Exculpation. Neither the Trustee nor either of <br /> the Creditors ' Representatives shall be personally <br /> liable to the Creditors ' Trust, to the holder of an <br /> Allowed Claim, or to the Debtor or its corporate <br /> -10- <br />
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