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in, part filled, wouldnt fill me on the ask for the longest time.
Merger is here looks like HDOGTX! Reinstatement but read the POR it said the merger would take it out of BK!
Pacer DOC Summary of Plan
1
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
----------------------------------------------------------X
In re: Chapter 11
CHARTWELL INTERNATIONAL, INC, Case No. 10- 37462 (CGM )
Debtor.
----------------------------------------------------------X
SUMMARY OF PLAN OF REORGANIZATION AND NOTICE OF HEARING
TO CONSIDER (i) DEBTOR’S COMPLIANCE WITH DISCLOSURE
REQUIREMENTS AND (ii) CONFIRMATION OF PLAN OF
REORGANIZATION
NOTICE IS HEREBY GIVEN as follows:
1. On August 16, 2010 (the “Petition Date”), Chartwell International Inc. the abovecaptioned
debtor (the “Debtor”), filed with the United States Bankruptcy Court for the
Southern District of New York (the “Bankruptcy Court”) a proposed plan of
reorganization (the “Plan”) and a proposed disclosure statement (the “Disclosure
Statement”) pursuant to §§ 1125 and 1126(b) of title 11 of the United States Code (the
“Bankruptcy Code”). Copies of the Plan and the Disclosure Statement may be obtained
upon request of Debtor’s counsel at the address specified below and are on file with the
Clerk of the Bankruptcy Court, 355 Main Street, Poughkeepsie, NY 12601, where they
are available for review between the hours of 9:00 a.m. – 4:30 p.m. The Plan and
Disclosure Statement also are available for inspection on the Bankruptcy Court’s internet
site at www.nysb.uscourts.gov.
Summary of Plan of Reorganization
2 Under the proposed Plan of Reorganization, Energy Resources Holdings LLC will
merge into Debtor, with ERH and its members receiving 90% of the issued and
2
outstanding shares of Debtor1 . Certain of Debtor's secured creditors will have their
respective security released to them; to the extent there is a shortfall, the secured creditors
will participate pro rata in the distribution to the unsecured creditors. Debtor's unsecured
creditors will receive their pro rata portion of five percent (5%) of the outstanding shares
of Reorganized Debtor. The existing shareholders of Debtor will own an aggregate five
percent (5%) of Reorganized Debtor, resulting in a 95% dilution of their ownership
interest. Administrative costs are expected to be minimal and will be paid from the
debtor-in-possession financing. Votes on the Plan were solicited prior to the Petition
Date. The following chart summarizes the treatment provided by the Plan to each class
of claims and interests and indicates the acceptance or rejection of the Plan by each class
entitled to vote.
Amazing. Out of BK for a few months now still no news.
thanks DD, alphatrade is really beginning to suck, that news came up under the cwltq ticker, but that ticker is not even in the news release..jeeze.
Looking for news next week I usually dont predict but got good reasons to think so.
NEW OFFICERS BIG NAMES
Herman Hohauser (CEO)
http://www.lawyer.com/hohauser-herman-j-857567.html
Oleg Voloshyn, (Finance Director)
UKRAINE GOVERNMENT SPOKESMAN
http://www.voanews.com/english/news/europe/Kyivs-Move-Toward-EU-Fuels-Ukraine-Russia-Gas-Tensions-129543268.html
Just got verification from lawyer by way of email. Below.
Question: "Any idea when they will update current shareholders of common stock since BK terminated? Thank you for a reply."
Answer:
"I am not involved in that, but I believe it will be soon"
Remember Oleg Voloshyn, New Finance director is Ukraine government spokesman. I do not think this will be under $1 when all is said and done. If they RS it will be 2-1 according to pacer. So you are looking at current shares staying intact with at most a 2-1 rs. Its all at pacer.
Might be a good one.
From Pacer
"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"
Ends up being 5% for current holders because new owners are issued 90 million shares. Not bad at all considering the potential.
The existing shareholders of Debtor will own an aggregate five
percent (5%) of Reorganized Debtor.
I have not talked to them yet. I will. I'm trying to add more for now. I'm hot on this one because pacer filings dont lie and past experience tells me Q usually drops within few weeks of emergence. Will post when I talk to officers.
have u contacted the co . about when the q is coming off ? 380k mkt cap this one is a hidden gem unless im missing something.
Read posted pacer filings and you will see that this one has emerged with shares intact. Symbol change soon. New officers. Energy company with big names. Read posted filings. All fact.
CWLTQ-UKRAINE GOVERNMENT SPOKESMAN NEW FINANCE DIRECTOR FOR CHARTWELL.
http://www.voanews.com/english/news/europe/Kyivs-Move-Toward-EU-Fuels-Ukraine-Russia-Gas-Tensions-129543268.html
Oleg Voloshyn, New Finance Director Big connection!
http://www.voanews.com/english/news/europe/Kyivs-Move-Toward-EU-Fuels-Ukraine-Russia-Gas-Tensions-129543268.html
"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."
Pacer DOC Summary of Plan
1
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
----------------------------------------------------------X
In re: Chapter 11
CHARTWELL INTERNATIONAL, INC, Case No. 10- 37462 (CGM )
Debtor.
----------------------------------------------------------X
SUMMARY OF PLAN OF REORGANIZATION AND NOTICE OF HEARING
TO CONSIDER (i) DEBTOR’S COMPLIANCE WITH DISCLOSURE
REQUIREMENTS AND (ii) CONFIRMATION OF PLAN OF
REORGANIZATION
NOTICE IS HEREBY GIVEN as follows:
1. On August 16, 2010 (the “Petition Date”), Chartwell International Inc. the abovecaptioned
debtor (the “Debtor”), filed with the United States Bankruptcy Court for the
Southern District of New York (the “Bankruptcy Court”) a proposed plan of
reorganization (the “Plan”) and a proposed disclosure statement (the “Disclosure
Statement”) pursuant to §§ 1125 and 1126(b) of title 11 of the United States Code (the
“Bankruptcy Code”). Copies of the Plan and the Disclosure Statement may be obtained
upon request of Debtor’s counsel at the address specified below and are on file with the
Clerk of the Bankruptcy Court, 355 Main Street, Poughkeepsie, NY 12601, where they
are available for review between the hours of 9:00 a.m. – 4:30 p.m. The Plan and
Disclosure Statement also are available for inspection on the Bankruptcy Court’s internet
site at www.nysb.uscourts.gov.
Summary of Plan of Reorganization
2 Under the proposed Plan of Reorganization, Energy Resources Holdings LLC will
merge into Debtor, with ERH and its members receiving 90% of the issued and
2
outstanding shares of Debtor1 . Certain of Debtor's secured creditors will have their
respective security released to them; to the extent there is a shortfall, the secured creditors
will participate pro rata in the distribution to the unsecured creditors. Debtor's unsecured
creditors will receive their pro rata portion of five percent (5%) of the outstanding shares
of Reorganized Debtor. The existing shareholders of Debtor will own an aggregate five
percent (5%) of Reorganized Debtor, resulting in a 95% dilution of their ownership
interest. Administrative costs are expected to be minimal and will be paid from the
debtor-in-possession financing. Votes on the Plan were solicited prior to the Petition
Date. The following chart summarizes the treatment provided by the Plan to each class
of claims and interests and indicates the acceptance or rejection of the Plan by each class
entitled to vote.
Pacer DOC
OFFICE OF THE UNITED STATES TRUSTEE
74 Chapel Street, Suite 200
Albany, NY 12207 Hearing date:
(518) 434-4553 August 23, 2011 at 9:30 a.m.
Eric J. Small, Esq.
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
POUGHKEEPSIE DIVISION
------------------------------------------------------X
In re:
Case No. 10-37462 (CGM)
CHARTWELL INTERNATIONAL, INC.,
Chapter 11
Debtor(s).
------------------------------------------------------X
STATEMENT OF THE UNITED STATES TRUSTEE REGARDING
ENTRY OF FINAL DECREE
TO THE HONORABLE CECELIA G. MORRIS, UNITED STATES BANKRUPTCY
JUDGE:
The United States Trustee for Region 2 respectfully makes this statement with
respect to the debtor’s motion for final decree scheduled for a hearing on August 23,
2011.
In support of her statement, the United States Trustee respectfully represents
and alleges as follows:
1. The debtor commenced this case by filing a voluntary petition under Chapter
11 of the Bankruptcy Code on August 16, 2010.
2. The Court confirmed the debtor's plan of reorganization by Order dated
October 21, 2010.
3. The United States Trustee opposes the entry of a final decree unless and/or
until the debtor complies with 28 U.S.C. Section 1930, which requires that "a quarterly
fee shall be paid to the United States Trustee, for deposit in the Treasury, in each case
under Chapter 11 of Title 11 for each quarter (including any fraction thereof) until the
case is converted or dismissed, whichever occurs first." 28 U.S.C. 1930(a)(6). The
assessment of the fee continues until such time as the case is converted to another
chapter of the Code, dismissed by the Court, or closed (final decreed) by the Court.
4. To date, our records reflect that the debtor’s statutory fees due since this
case’s inception through the second quarter, 2011 are in the amount of $1,300.00, and
total payments made were in the amount of $975.00 resulting in a balance due in the
amount of $325.00.
5. Since the presentment of the final decree is scheduled within the third
quarter, 2011, the debtor is liable for the payment of the quarterly fees for this partial
quarter. Since this office has no information regarding the disbursement level for this
partial quarter, the statutory fee due is anticipated to be at least $325.00. This
estimated amount is based upon anticipated disbursement levels, but is subject in all
respects to the actual disbursements during that period, which are required to be
verified by the debtor.
6. Therefore, based upon the above, the total quarterly fees due prior to the
entry of the final decree are estimated to equal at least $650.00, subject to the
verification of disbursements to be provided.
7. The United States Trustee reserves the right to amend its request for
quarterly fees should the disbursement levels require a different quarterly fee payment,
or, if the entry of the final decree occurs within a subsequent quarter.
WHEREFORE, the United States Trustee has no objection to the entry of a final
decree, subject to the conditions set forth above.
DATED: August 15, 2011
Poughkeepsie, New York. Respectfully submitted,
TRACY HOPE DAVIS
UNITED STATES TRUSTEE
REGION 2
/s/Eric Small
ERIC SMALL, ESQ.
74 Chapel Street, Suite 200
Albany, New York 12207
Telephone: (518) 434-4553
PACER DOCS
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
----------------------------------------------------------X
In re: Chapter 11
CHARTWELL INTERNATIONAL, INC, Case No. 10- 37462 (CGM )
Debtor.
----------------------------------------------------------X
FINAL DECREE CLOSING CASE OF CHARTWELL INTERNATIONAL INC.
UPON THE MOTION OF REORGANIZED DEBTOR CHARTWELL
INTERNATIONAL INC., seeking entry of a final decree (the “Final Decree”) closing
this chapter 11 case pursuant to Sections 105(a) and 350 of title 11 of the United States
Code, and Rule 3022 of the Federal Rules of Bankruptcy Procedure (the “Motion”); and
it appearing that proper notice was given; and it appearing that no further notice is
necessary; and the relief requested being in the best interest of the Debtor and its estate;
and sufficient cause appearing therefor; it is hereby:
ORDERED, that the Motion is granted, subject to the terms provided herein; and it is
further
ORDERED, that pursuant to Section 350(a) of the Bankruptcy Code and Bankruptcy
Rule 3022, the above-captioned Chapter 11 case is hereby closed; provided, however,
that this Court shall retain such jurisdiction as provided for in Article XV of the Plan,
including without limitation, with respect to any matters that may arise in connection
with the plan and distributions made thereunder; and it is further
ORDERED, that Reorganized Debtor shall not be obligated to pay any fees in respect
2
of this chapter 11 case to the United States Trustee in accordance with 28 USC
1930(a)(6)for any period beyond the date of this Order, provided, however, that all fees
due and owing to the United States Trustee as of the date of this Order shall be paid in
full no later that five business days subsequent to entry of this Order; and it is further
ORDERED, that pursuant to the terms of Local Rule 3022-1, within five business
days subsequent to issuance to claimants of the respective share certificates by the
transfer agent of Reorganized Debtor in accordance with Debtor’s Plan of
Reorganization, Reorganized Debtor shall submit a supplemental closing report regarding
such issuance of share certificates.
Dated: Poughkeepsie, NY
September 8, 2011
/s/ Cecelia G. Morris________________
HONORABLE CECILIA G. MORRIS
United States Bankruptcy Judge
No Objections:
TRACY HOPE DAVIS
OFFICE OF THE U.S. TRUSTEE
REGION 2
/s/ Eric J. Small - 9/6/11
_________________________________
By: ERIC J. SMALL, ESQ.
74 Chapel Street, Suite 200
Albany, New York, 12207
very interesting....Someone knew about this ahead of time, as you can see just before close....
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