New Gulf Resources, LLC Bankruptcy New Filing Alert: Order Regarding The Plan Of Reorganization

On February 4, 2016, an order regarding the plan of reorganization was filed in the bankruptcy case of New Gulf Resources, LLC and its affiliates.

The filing was assigned docket number 262 and is described on the court’s official docket as follows:

Order Granting Motion for (I) Authority to Assume the Backstop Note Purchase Agreement, (II) Approval of (A) the put Option Notes, (B) the Liquidated Damages Payment, (C) Transaction Expenses, and (D) Indemnification Obligations, and (III) (A) Approving Procedures for Rights Offering and (B) Authorizing the Debtors to Conduct the Rights Offering in Connection with the Debtors’ Joint Plan of Reorganization (Related Doc # [25])(related document(s)[25], [204], [231]) Order Signed on 2/4/2016. (Attachments: # (1) Exhibit 1) (GM)

New Gulf Resources, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on December 17, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 15-12566. The bankruptcy case is currently assigned to United States Bankruptcy Judge Brendan Linehan Shannon. The law firm of Baker Botts LLP is acting as lead bankruptcy counsel to New Gulf Resources, LLC in the bankruptcy case.


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