Ultra Petroleum (OTCQX:OTCQX:UPLC) filed for Ch.11 bankruptcy late in the evening on May 14 in Texas and Judge Marvin Isgur was assigned the case. The Ch.11 reorganization plan is included in the declaration by Brad Johnson (docket 14). Shareholders are getting no recovery. The filing was expected after they used the 30-day grace period for non-payment of interest due on April 15. There is also a critical hearing currently set for May 19 to hear oral arguments for the $240 million Make Whole litigation (case 16-32202-11).
Reorganization Plan
Shareholders
No recovery