_GENERAL DOCUMENTS - C1981017 (170)

Home Browse Search

APR G 4 pg UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO IN BANKRUPTCY In re: ) MID-CONTINENT RESOURCES, INC. ) Case No. 92 11658 PAC T.I.N. 36-1475193 ) (Chapter 11) Debtor. ) REPORT ON VOTING ON DEBTOR'S SECOND AMENDED PLAN OF LIQUIDATION Mid-Continent Resources, Inc. , debtor in possession (the "Debtor" ) , through its counsel, Holden & Jessop, P.C. , submits the following Report on Voting on Debtor's Second Amended Plan of Liquidation (the "Plan" ) : 1. Pursuant to the Court's February 8, 1994 Order Approving Disclosure Statement for Second Amended Plan of Liquidation, the deadline for voting on the Plan was March 16, 1994 . 2. The Plan specified twelve classes of claims. A detailed summary listing each ballot received from the Debtor's creditors, broken down by class, and counting all ballots received on or before the March 16, 1994 voting deadline, is attached hereto as Exhibit A. The voting is summarized as follows: a. Class 1 -- Property Taxes. Class 1 consists of claims for property taxes, which are secured by a senior statutory lien on the Debtor's real and personal property. No claimants in Class 1 voted on the Plan. Class 1 claims are unimpaired under the Plan, and thus are conclusively presumed to have accepted the Plan. See 11 U.S.C. S 1126(f) . b. Class 2 -- Patsantaras. Class 2 consists of the claim of Mabel Patsantaras, which is secured by approximately 2900 acres of real property located within the Debtor's mine site. A ballot was received from the claimant accepting the Plan. C. Class 3 -- Caterpillar. Class 3 consists of the claim of Caterpillar Financial Services Corporation, which is secured by the Debtor's Caterpillar D-8 Dozer and Backhoe. No ballot was received from the claimant. The Class 3 claim is unimpaired under the Plan, and thus is conclusively presumed to have accepted the Plan.