Bloomberg Law
Feb. 28, 2022, 9:02 PM

Rockdale Marcellus Approved to Send Liquidation Plan for Vote

James Nani
James Nani

Rockdale Marcellus LLC received conditional approval to solicit creditor votes on its plan to liquidate in Chapter 11 and distribute about $21 million in cash that remains in the shale driller’s bankruptcy estate.

The amended plan and disclosure statement, approved for voting purposes Monday, would pay in full $13.2 million in administrative claims and $1.5 million in taxes. Secured creditors also would be paid in full.

A “convenience class” of unsecured creditors with claims of up to $75,000 would recover 50% of their claims. Unsecured creditors holding claims larger than $75,000 would recover about 16% of approximately $40 million ...