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1999-02-01_GENERAL DOCUMENTS - C1981017
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1999-02-01_GENERAL DOCUMENTS - C1981017
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Last modified
3/15/2021 1:45:47 PM
Creation date
5/2/2012 2:23:33 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
2/1/1999
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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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 IvICR bankruptcy estate assets to fiend 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 Coal 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 summer'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 />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 $3,000,000, 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 />C1v!L No. 97 cv 131 - <br />20. DMG reclamation work began in 1995 and continued in the 1996, 1997 and 1998 <br />-4- <br />MIDCON REALTY, LLC'S <br />THIRD -PARTY COMPLAINT <br />
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