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EMES - Lots Of Problems With Emerge Energy Services' Restructuring Plan
Emerge Energy Services LP representing Limited Partner Interests
Retail investors may be tempted to buy Emerge Energy Services LP (EMES) because the price of the units have plunged to record lows after a restructuring support agreement-RSA was announced. Buying EMES now involves huge risks, including the potential for large individual income tax liabilities because of CODI-cancellation of debt income. Another risk is unitholders could get nothing if the partnership files for Ch.11 bankruptcy and the general unsecured creditor class votes against the reorganization plan.
On April 23, Seeking Alpha published an article by Henrik Alex. In the article