On July 14, 2015, an order regarding the motion for authority to enter into a transaction which is outside the ordinary course of business was filed in the bankruptcy case of Magnetation LLC and its affiliates.
The filing was assigned docket number 240 and is described on the court’s official docket as follows:
ORDER AUTHORIZING AND APPROVING (I) THE 2015 INCENTIVE PROGRAM AND (II) THE INCENTIVE PAYMENTS AUTHORIZED THEREUNDER IN THE ORDINARY COURSE OF BUSINESS TO CERTAIN EMPLOYEES (Related Doc # 216) (Judy MNBS) (Entered: 07/14/2015)
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.