October 17, 2019 / 11:37 PM / a month ago

Emerge Energy's Ch. 11 plan hits snag on terms for shareholders

Emerge Energy Services LP’s reorganization plan should be required to offer a better way to obtain shareholder consent to its releases since the bankrupt fracking sand supplier is not giving them a right to vote on the plan, the U.S. trustee said in a filing on Thursday.

According to a filing Thursday by the U.S. government’s bankruptcy watchdog in U.S. Bankruptcy Court in Delaware, Emerge is not giving shareholders a way to show they truly agree to the releases and may even fail to notify them of the releases.

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