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1998-11-30_GENERAL DOCUMENTS - C1981017
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1998-11-30_GENERAL DOCUMENTS - C1981017
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Last modified
3/13/2021 12:00:27 PM
Creation date
5/2/2012 2:23:17 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
11/30/1998
Doc Name
Midcon Realty, LLC's 3rd party complaint
From
US District Court
To
Mid-Continent Resources, Inc. & DMG
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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11/30/98 18:37 FAX 3037962777 BURNS FIGA & SPILL Z010/014 <br /> Order are Plaintiffs complaint Exhibit-B. For convenience of reference, a conformed copy of the <br /> Plan incorporating the three amendments, reduced in size and with line numbering added to <br /> facilitate reference is attached to Defendants' amended answer and counterclaims in this proceeding <br /> (Answer Exhibit 2)_ <br /> 16. Article VI of the Plan, captioned Execution and Implementation of the Plan;" <br /> contains the basic Plan concept -- liquidation of MCR bankruptcy estate assets to fund the <br /> Creditors' Trust. Basically the Creditors' Trustee is granted an irrevocable power of attorney over all <br /> assets of the bankruptcy estate (Plan § 6.2.1). Specifically covered is the Coal Basin "mine site" <br /> which is defined in Plan section 1.24 and includes all Coal Basin real and personal property as well <br /> as the "Carbondale Load Out Tract" located in Garfield County,near Carbondale, Colorado, id. <br /> 17. The Plan creates a "Creditors' Trust" (Plan § 1.10) and establishes a "Creditors' <br /> Trustee" (id. § 1.11). The Plan creates two "Creditor Representatives (id. § 1.9) who supervise as <br /> specified in section 6.2 of the Plan. That Plan section provides the Creditors' Trust shall be <br /> administered by the Creditors' Trustee (id. § 6.2) supervised by the Creditors' Representatives (id_ § <br /> 6-2.3). <br /> PERMIT RECLAMATION <br /> 18. MCR began Coat Basin reclamation work as required by its MLRB permit in 1992 <br /> after it became apparent the mine property could not be sold as an operating entity_ Reclamation <br /> work by MCR and its contractors continued during the summer work seasons_ In 1994 as MCR <br /> prepared for the summer work season, DMG refused to approve that surnmer's proposed work and <br /> on or about July 18, 1994 it announced and took over Coal Basin reclamation work. <br /> 19. Among the Plan aims is liquidation of the assets of the bankrupt estate and <br /> reclamation of the Coal Basin mine property. Reclamation is an integral part of the Plan (see e.g., <br /> Plan §§ 1.25, 1.30 and 4.3.2). <br /> 20. DMG reclamation work began in 1995 and continued in the 1996, 1997 and 1998 <br /> seasons. <br /> 21. The effect of the Plan is to "cap" or set a maximum amount owed by the Creditors' <br /> Trust to DMG for Coal Basin mine property reclamation (up to S3,000,000, Plan § 4.3.5) based <br /> upon costs and value of reclamation work performed by the State of Colorado less (a) cash <br /> proceeds from the sale of the so-called Rockdust Plant and its real property (id. 4.3.2), (b)the value <br /> of the remedial work performed by MCR's contractors (id. § 4.3.2(ii)), and (c) the value of <br /> remedial/reclamation work performed by MCR(id. § 4.3.2(iii)). <br /> MIDCON RFAI-Tv,LLC's <br /> -4- <br /> CIVIL No. 97 CV 13 1-3 THIRD-PARTY COMPLAKY <br />
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