Laserfiche WebLink
B) . Theoretically under the plan, the Division is to receive $3 <br /> million less the following amounts: <br /> 1. The net proceeds from the sale of the rockdust <br /> plant; <br /> 2 . The value of demolition work done pursuant to a <br /> contract approved by the bankruptcy court; and <br /> 3 . The value of reclamation work done prior to the <br /> effective date of the liquidation plan. <br /> The distribution of any funds under the liquidation plan is <br /> entirely contingent upon sales of the property contained in the <br /> bankruptcy estate. To date, although some reclamation has been <br /> performed at the site, substantial work needs to be done to <br /> accomplish full reclam,-Ition. (Exhibit C) . The Division has <br /> received proceeds only troy^ the sale of the rockdust plant. The <br /> net proceeds from the t-;a le were libout S3431 , 000 . These proceeds <br /> i rc i n:.0 f f i c : ant j'• +n ? rec l amat ion costs. No <br /> other •fund•s from th(-• 1 icl�: l,l it i :;;, E in hive been made available <br /> for distribution. The e!•t ir,it(-A of reclamation is about $3 <br /> million, but the cost could tar exceed that amount. <br /> -4- <br />