GMX hit with trustee objectionChapter 11 reorganization plan fails to pass muster because release provisions for nondebtor parties make it unconfirmable Steve Sutherlin For Petroleum News Bakken
Bankrupt Bakken producer GMX Resources Inc. hit a snag in its Chapter 11 reorganization when the U.S trustee objected to the company’s proposed reorganization plan.
U.S. Trustee Richard A. Wieland said the GMX reorganization proposal contains releases that make the plan unconfirmable.
“There is stro....
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Not truly reorganized Companies filed in April
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