What is the Emergence Distribution for Noteholders?
What happened to the old LINN securities (LINEQ and LNCOQ) under the plan of reorganization?
On January 27, 2017, the United States Bankruptcy Court for the Southern District of Texas entered the order confirming the Plan of Reorganization of Linn Energy, LLC and Its Debtor Affiliates. The Plan became effective on February 28, 2017.
Pursuant to the Plan, on the effective date all previously issued securities in LINEQ and LNCOQ that were listed and outstanding immediately prior to the Effective Date were cancelled and extinguished. Holders of interests in LNCOQ may receive a nontransferable escrow position to the extent necessary to facilitate any distributions that may become available in the future on account of such interests in LNCOQ.
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