Quality Construction wins confirmation of sixth amended plan
The court confirmed the Sixth Amended Joint Plan on May 22, 2019, capping a Chapter 11 that Quality Construction & Production, LLC opened on March 16, 2018 in the Western District of Louisiana. The lead debtor filed with 200-999 creditors and estimated both assets and liabilities at $10 million-$50 million, listing Quality Production Management, Quality Acquisition and Traco Production Services as affiliates, with Nathan Granger signing as president and Thomas E. St. Germain of Weinstein Law Firm as debtor counsel source filing. Its schedules put Quality Construction alone at $5.2 million of assets against $24.7 million of liabilities, including $16.5 million of secured claims and $8.2 million of nonpriority unsecured claims source filing.
Confirmation moves control to Energy Services Note Acquisition, LLC and CAC Services, LLC, the plan proponents. Under the confirmed plan, ESNA receives a promissory note and new equity or membership interests in the reorganized debtors, while general unsecured creditors share ESNA-funded available cash of $2.0 million minus half of priority-tax payments; old equity receives no distribution source filing. The order resolves Louisiana Department of Revenue and U.S. Trustee objections through modifications, overrules other objections for lack of prosecution, appoints Fortunato Martinez to run the reorganized debtors, and vests estate property free and clear on the effective date source filing.