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1993-12-01_GENERAL DOCUMENTS - C1981017 (3)
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1993-12-01_GENERAL DOCUMENTS - C1981017 (3)
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Last modified
1/31/2021 7:34:10 AM
Creation date
4/30/2012 11:29:07 AM
Metadata
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Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
12/1/1993
Doc Name
Debtor's 1st amended 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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6 .2 Creditors ' Trust. The Creditors ' Trust shall be <br /> established on the Effective Date in accordance with the following <br /> terms and provisions: <br /> 6 .2 . 1 Purpose of Creditors ' Trust. The Creditors ' Trust <br /> shall liquidate its assets and (i) make limited cash <br /> transfers to the Reelamatienr---Aeeeunt and the <br /> Environmental Trust as set—Perth—heFe-i-Rprovided by <br /> Section 6.2.7 of - .-the Plan; (ii) make the fixed <br /> distributions .to .the Class 2 claim and tax priority <br /> claims, as. :provide_ d.by Sections 4.1 and 5.2 of the Plan; <br /> and (i i) `divide` all" remaining Net Proceeds bet ween *the <br /> Class 4 claim (Sanwa) and Class 9 claims (general <br /> unsecured) as set forth herein. <br /> 6.2.2 Property Transferred into or Co .t. o led by the <br /> Creditors ' Trust. Qn.,.the. Effective :.Date; the following <br /> property::Shall': be`t:ransferred..::S.nto :.the creditors-` ".Trust: <br /> extent provided by <br /> Section .6.._1: ;of i the:: 1an;: and (11):� 1 chores .in action, <br /> i n ludinc .. a l &V ideince::.powers. of the ' Debtor a�.i.s�.ng <br /> in`:addita.onr .ou-the Xf fective <br /> Dater tie <:<:Creditar •.:' , firustee<-:.;:-shall: :' be giuen: :.an <br /> :. . <br /> itrevocable° :lavwer<:' :af > attorney'.: ves -ng:::::the :Creditor ::'. <br /> Trfi tee.: r i h :fill' power :and authflf zty :to convey:t%t ...to <br /> the��foTlbwin ro art s�ia==tee tears= -r-�ee��te ��z <br /> QEediters ' Trust: (i) the Mine Site; (ii) the Carbondale <br /> Industrial Park; (iii) the Coke Oven Property; (iv) the <br /> Fabrication Shop; (iv) all equipment; (v) all eheses in <br /> . edam. and (v) all other real and personal property of <br /> the Debtor, excepting only a the Rockdust Plant wich <br /> p ouai.ded:`by.::-:.Sect srz� 4`" 'vf,:_the <br /> the Ntarbl:eliead Quarry:,"sahich : s>':tti:be::aiartrxcii�ed <br /> ptrsuaut::; to°'' etzan ::#:: : :iaf <br /> Continent Quail ...which`'i s,:to 'be-AdmIn i:steretl::as:prow ded <br /> by. Sect1b. r5:;.;::.a!'caf':t ie P1ana�e €e ee -'^.^.�.. <br /> Re'6 -Ad' (b)-sueh e`ash--as Is Eeg iEed to <br /> be-distE--sited by the-pebteE sndeE tyre- lae <br /> transfe rrec 'pursnant`to: tie.:GredJ.torer"Trustee":s"power-.,of <br /> atta n y s a13;::be >tra interred: free.-':and-*-cbear-.o f..:.liens.:and <br /> 01, :;::the:: a �ent> �rmitted,::b '::Secti <br /> 1# uZptcy>` oe:x<?`exaept:`fas the;::s�tatu°tPry:'liea. i�f `real <br /> taues` < <:N�f<_:Pr©oe8ds:� _af;�:.prop .:::ttie <br /> gd� s:: >:riistee :pursuant: his 'power -of.;,.attorjey <br /> si a1 .>ber rah$ :heci`by.::: Yt '.Creditors!.: Trust'and:d`stri.buted <br /> ... . .. . . <br /> z :adoi da ee wa th.the provisions:: of>the <br /> -11- <br />
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