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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
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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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4 . 3 Class 6. The Class 6 claim (other environmental <br /> claims ) shall be paid by the Environmental Trust in accordance <br /> with Section 6 .4 of the Plan. <br /> 4 . 4 Class 8 . Each Allowed Claim in Class 8 (general <br /> unsecured claims exceeding $200 but not exceeding $10 , 000 ) shall <br /> be paid by the Debtor cash equal to five percent of the Allowed <br /> Claim, on the Effective Date. <br /> 4 .5 Class 9 . Provided that the Plan is accepted by <br /> holders of Allowed Class 9 (general unsecured) claims comprising <br /> at least two-thirds of all such claims, Class 9 shall be paid by <br /> the Creditors ' Trust in accordance with Section 6.2 of the Plan. <br /> 4 . 6 Class 10 . The Class 10 claims (Pitkin Iron <br /> Corporation) shall be voluntarily subordinated to Class 9 claims <br /> and shall receive or retain nothing under the Plan. <br /> 4 . 7 Class 11 . Each claim in Class 11 (Dyrness, <br /> Strauss, Harkers) shall be subordinated to Class 9 claims <br /> pursuant to Section 510 (b) of the Bankruptcy Code and shall be <br /> paid the sum of $1.00 by the Debtor. <br /> 4 . 8 Class 12 . The Class 12 claims (Mid-Continent <br /> Minerals and its shareholders and subsidiaries) shall be <br /> voluntarily subordinated to Class 9 claims and shall receive or <br /> retain nothing under the Plan. <br /> 4 . 9 Class 13. The Class 13 interest (Mid-Continent <br /> Minerals) shall retain its stock in the Debtor but shall <br /> otherwise receive or retain nothing under the Plan. <br /> ARTICLE V <br /> TREATMENT OF CERTAIN UNCLASSIFIED CLAIMS <br /> 5 . 1 Administrative Expenses. The holder of each <br /> Administrative Expense shall be paid by the Debtor in full and in <br /> cash on the Effective Date, except to the extent that the holder <br /> of any such claim has agreed to a different treatment of such <br /> claim. Administrative expenses include, without limitation, (i) <br /> fees payable under 28 U.S.C. § 1930, (ii) all amounts due on <br /> post-petition accounts and contracts, and (iii) professional <br /> fees. <br /> -7- <br />
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