Laserfiche WebLink
5 . Class 6 involves non-reclamation environmental <br /> claims, most notably including ongoing monitoring of water quality, <br /> which falls within the jurisdiction of the Colorado Department of <br /> Health. Both the Department and the Colorado Attorney General were <br /> served with Plan solicitation materials. In the Tenth Circuit, a <br /> non-voting, non-objecting creditor is deemed to have accepted a <br /> plan when the creditor fails to respond to the plan one way or the <br /> other. In re Rut i-Sweetwater, Inc. , 836 F. 2d 1263, 1266 ( loth Cir. <br /> 1988 ) . The Debtor thus submits that Class 6 has accepted the Plan. <br /> 6 . With respect to Class 9, the level of acceptance <br /> exceeds the requirements of Section 7 .4 of the Plan, which required <br /> acceptance by a minimum of $10, 000, 000 of Class 9 claims, including <br /> the claims of the Colorado Compensation Insurance Authority, Public <br /> Service Company of Colorado, and the Denver & Rio Grande Railroad. <br /> Each of those claimants accepted the Plan. The conditions set <br /> forth in Section 7 .4 thus have been satisfied. <br /> 7 . The Plan is confirmable despite the rejections or <br /> deemed rejections of Classes 10, 11 , 12 , and 13, if (i) the Plan <br /> complies with 11 U.S.C. § 1129 (a) ; (ii) the Plan does not <br /> discriminate unfairly; and (iii) the Plan is fair and equitable <br /> within the meaning of 11 U.S.C. § 1129 (b) . <br /> a. No person has filed any objection alleging that the <br /> Plan fails to comply with 11 U.S.C. § 1129 (a) . The <br /> Debtor submits that all standards set forth therein are <br /> satisfied by the Plan. <br /> b. One group of claimants, members of the Harker family <br /> who are classified in Class 11 , have filed an objection <br /> alleging that the Plan unfairly discriminates against <br /> them. The Debtor has filed a response to this objection <br /> and the issue will have to be resolved in favor of the <br /> Debtor if the Plan is to be confirmed. <br /> C. The Plan is fair and equitable as to the claims in <br /> Classes 10, 11, and 12, because the classes are comprised <br /> of unsecured claims and no holder of any claim or <br /> interest junior to those classes receives or retains any <br /> property under the Plan. <br /> d. The Plan is fair and equitable as to the interest in <br /> Class 13 because the class is comprised of common stock <br /> and there is no interest junior to such class which is <br /> receiving or retaining any property under the Plan. <br /> 8 . Although Mid-Continent Minerals, Inc. is deemed to <br /> have rejected the Plan for purposes of considering class acceptance <br /> by Class 12, notwithstanding its acceptance of the Plan, the Debtor <br /> submits that such acceptance constitutes its consent to Section 5. 1 <br /> of the Plan, which waives administrative claims of Minerals on <br /> 5 <br />