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Chartwell International, Inc (fka CWLTQ)

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Last Post: 3/12/2013 4:20:47 PM - Followers: 7 - Board type: Free - Posts Today: 0


Item 1.03    Bankruptcy or Receivership.
 
On August 16, 2010 the registrant filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York (Case No. 10-37462). On October 21, 2010 the U.S. Bankruptcy Court confirmed the registrant's plan of reorganization.   Under the plan of reorganization, pursuant to section 1145 of the Bankruptcy Code, freely tradable shares of the newly reorganized registrant will be issued as follows: 90% to Energy Resources Holdings, LLC ("ERH"), 5% to the holders of unsecured claims and 5% to the existing holders of shares of the registrant's common stock and preferred stock.  Under the plan of reorganization, the registrant has 21,994,013 shares of its common stock issued and outstanding, which shares will be subject to a 1:2 reverse stock split whereby each two outstanding shares of common stock will be exchanged for one share of common stock, following which the registrant will issue 98,973,058 shares to ERH, 5,498,503 shares to the holders of unsecured claims and 5,498,503 shares to the existing holders of its common and preferred stock. Under the plan of reorganization, the registrant will merge with ERH--following the 1:2 reverse stock split, change of name to Covalent International, Inc., increase in authorized shares of common stock to 500 million and distribution of stock as set forth above--that will result in the registrant owning a number of gas exploration and production projects in Botswana, Ukraine, the Republic of Georgia and the Commonwealth of Virginia that the registrant believes have large production potential based upon proven, probable and prospective gas-in-place reserves in these projects.  As of the date of confirmation, the assets of the registrant are as set forth in the registrant's voluntary Chapter 11 petition that reflected a range of assets between $50,001 and $100,000 and liabilities in a range of $100,001 and $10,000,000.
 
The above is a summary of the plan of reorganization and is qualified in its entirety by the plan of reorganization that is attached to this Current Report on Form 8-K as Exhibit 2.1 and incorporated herein.
 
Item 9.01.   Financial Statements and Exhibits.
 
(d) Exhibits
 
2.1 Plan of Reorganization, confirmed October 21, 2010

Read more: http://www.faqs.org/sec-filings/101027/Chartwell-International-Inc_8-K/#ixzz1sPw7xlbZ



 
"The Board of Directors of Reorganized Chartwell shall consist initially of Chartwell shall consist initially of five (5) directors: Robert Papiri, Ernest Stern, Jonathan
Kelafant, Imre Eszenyi, and Herman Hohauser. until their successors are duly elected and qualified, or until their earlier resignation or removal. Senior management will include
Herman Hohauser (CEO), Paul Biberkraut (Chief Financial and Administrative Officer) and Oleg Voloshyn, Finance Director.
The Board of Directors of Chartwell shall have at least two committees, the Compensation Committee and the Audit Committee."
PostSubject
#83   03/12/13 Reorganization jip53 03/12/13 04:20:47 PM
#82   http://covalentenergy.com/ jaxstraw 03/12/13 04:12:57 PM
#81   No ticker yet,they are just giving me half jip53 03/12/13 04:09:41 PM
#80   What ticker are the shares under ? jaxstraw 03/12/13 04:07:01 PM
#79   They must have finally implemented the POR distribution. jaxstraw 03/12/13 04:05:22 PM
#78   Looks like etrade is giving me the covalent jip53 03/12/13 04:00:39 PM
#77   New 8-K filed with SEC; merger completed ms evers 09/26/12 10:17:04 PM
#76   16:41 CWLTQ Chartwell International, Inc. Common Stock 6/21/2012 jaxstraw 06/21/12 05:49:22 AM
#75   CWLTQ: Renee 06/20/12 05:54:29 PM
#74   Did you see this? trendtraderz 06/05/12 08:38:40 PM
#73   Yes, hence the reference to it only being HDOGTX 05/31/12 01:12:32 PM
#70   CWLTQ Volume~ HDOGTX 05/31/12 11:43:47 AM
#69   Covalent International Inc. fka Covalent Energy International Inc. trendtraderz 04/25/12 11:25:05 PM
#68   It's been mentioned here and I certainly knew trendtraderz 04/25/12 10:18:47 AM
#67   Looks like nobody saw that they are performing nvidiaforgames 04/25/12 10:03:49 AM
#66   ah, ok, got it, thx. gail 04/20/12 03:03:06 PM
#65   The name change has already happened, the name trendtraderz 04/20/12 02:03:22 PM
#64   what i understand is, a name change is gail 04/20/12 01:38:55 PM
#63   It is golfing season. As for me, I trendtraderz 04/20/12 01:36:33 PM
#62   someone needed their 125 bucks for the weekend gail 04/20/12 01:27:46 PM
#61   Covalent Energy International Inc. fka Chartwell International Inc. trendtraderz 04/18/12 11:58:36 PM
#60   Chartwell making moves, adjusted share structure for business trendtraderz 04/18/12 11:28:56 PM
#59   Nice find! Hopefully these cats have something good trendtraderz 04/18/12 05:47:20 PM
#58   John Onufrak is (was?) the managing director of jaxstraw 04/18/12 05:16:18 PM
#57   L2 doing a lot behind the scenes now. :-) gail 04/18/12 02:13:11 PM
#56   bids coming up! gail 04/18/12 01:52:06 PM
#55   i cant wait to see someone take.. gail 04/18/12 01:48:13 PM
#54   Dropping the Q, Atty letter with respect to HDOGTX 04/18/12 01:41:53 PM
#53   The one thing that is most interesting is jaxstraw 04/18/12 01:41:20 PM
#52   guys, look at L2, its shaping up as gail 04/18/12 01:40:37 PM
#51   Its very common on a lot of reinstatement trendtraderz 04/18/12 01:38:08 PM
#50   looks like the ask can fall and move gail 04/18/12 01:36:13 PM
#49   Something could come at any time. hdsstocks 04/18/12 01:34:56 PM
#48   CWLTQ looking good, ground floor here~ HDOGTX 04/18/12 01:33:37 PM
#47   Thanks for the insight. That is a positive jaxstraw 04/18/12 01:33:14 PM
#46   It was a confirmed merger from the POR jaxstraw 04/18/12 01:32:13 PM
#45   That is a bulk filing. Catching up all trendtraderz 04/18/12 01:32:12 PM
#44   Something is obviously up here. Commons survived, reinstated hdsstocks 04/18/12 01:30:01 PM
#43   One thing is for certain though, someone is jaxstraw 04/18/12 01:29:24 PM
#42   Not sure. hdsstocks 04/18/12 01:27:23 PM
#41   I'm not as proficient in reading the reinstatement jaxstraw 04/18/12 01:26:46 PM
#40   ask just thinned out. gail 04/18/12 01:25:17 PM
#39   No, all of that happened or the court jaxstraw 04/18/12 01:11:58 PM
#38   Any chance that that never materialized? That Covalent trendtraderz 04/18/12 01:08:11 PM
#37   Breakdown of SS ( as it is known jaxstraw 04/18/12 12:46:23 PM
#36   i agree t/t. gail 04/18/12 11:52:06 AM
#35   Nice find! With this float and Energy Resource trendtraderz 04/18/12 11:39:47 AM
#34   Under the proposed Plan of Reorganization, Energy Resources HDOGTX 04/18/12 11:13:08 AM
#33   Do You know if Commons are intact? syoking1 04/18/12 11:11:32 AM
#32   Hmm, I am in too, thinking something big hdsstocks 04/18/12 11:07:50 AM
PostSubject