On May 7, 2015, an order regarding the motion for authority to pay claims of employees was filed in the bankruptcy case of Magnetation LLC and its affiliates.
The filing was assigned docket number 59 and is described on the court’s official docket as follows:
ORDER (I)GRANTING AN EXPEDITED HEARING, (II)AUTHORIZING THE DEBTORS TO (A)PAY PREPETITION WAGES, SALARIES, EMPLOYEE BENEFITS AND OTHER COMPENSATION,(B)MAINTAIN EMPLOYEE BENEFITS PROGRAMS AND PAY RELATED ADMINISTRATIVE OBLIGATIONS AND (C) HONOR MANAGEMENT SERVICES AGREEMENT AND PAY PREPETITION OBLIGATIONS RELATED THERETO,(III)AUTHORIZING MAGNETATION EMPLOYEES TO PROCEED WITH OUTSTANDING WORKERS COMPENSATION CLAIMS AND (IV)AUTHORIZING FINANCIAL INSTITUTIONS TO HONOR AND PROCESS RELATED CHECKS AND TRANSFERS (Related Doc # 15) (Judy MNBS) (Entered: 05/07/2015)
Magnetation LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on May 5, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Minnesota. The case number for the lead bankruptcy case is 15-50307. The bankruptcy case is currently assigned to United States Bankruptcy Judge Gregory Kishel. The law firm of Davis Polk & Wardwell LLP is acting as lead bankruptcy counsel to Magnetation LLC in the bankruptcy case.