Emerge Energy Services LP, a bankrupt fracking sand supplier, must revise bankruptcy plan disclosures after a judge rejected them due to a lack of information to shareholders and creditors.
The Fort Worth, Texas-based company should work with unsecured creditors and the Securities and Exchange Commission to resolve their objections, Judge Karen B. Owens of the Delaware bankruptcy court said at a Sept. 9 hearing.
The SEC said it objected to the disclosures because they failed to give some shareholder classes clear notice that they would not be able vote on the plan. Emerge Energy, which was listed on the New...
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