Vista Proppants and Logistics’ June 9, 2020 Chapter 11 proceeding reached plan effectiveness, as reported in the effective-date notice Dkt. 748 filed on November 6, 2020. Following the October 28 confirmation order Dkt. 717, the operative path was implementation of the Fourth Amended Joint Plan of Reorganization.

Vista Proppants and Logistics reached effectiveness of its Fourth Amended Joint Plan of Reorganization, as reported in the effective-date notice Dkt. 748 filed on November 6, 2020. The company filed its Chapter 11 petition Dkt. 1 on June 9, 2020, and the court entered the confirmation order Dkt. 717 on October 28, 2020, establishing reorganization as the case’s operative outcome.

Vista was a vertically integrated frac sand producer and logistics operator serving oil and gas producers. In her June 10, 2020 first-day declaration Dkt. 35, CFO Kristin Whitley attributed the liquidity crisis to declining oil and natural gas markets and reduced frac sand demand, compounded by COVID-19 disruptions. Vista furloughed employees and reduced operations to minimal levels, but negotiations with its lenders and efforts to secure alternative financing did not resolve its liquidity needs. It pursued Chapter 11 to preserve the business as a going concern and eliminate costly obligations.

The restructuring began with senior-lender support for a plan and proposed financing from Ares Capital Corporation and PlainsCapital Bank, described in Gary Barton’s June 10 restructuring declaration Dkt. 36. The July 16, 2020 final DIP financing order Dkt. 219 authorized a commitment of up to $11 million and use of cash collateral, with priming liens, superpriority protection and spending controls tied to a 13-week budget. The financing framework provided the liquidity authority for the lender-supported reorganization that subsequently reached confirmation and effectiveness.

Vista Proppants and Logistics’ June 9, 2020 Chapter 11 proceeding reached plan effectiveness, as reported in the effective-date notice Dkt. 748 filed on November 6, 2020. Following the October 28 confirmation order Dkt. 717, the operative path was implementation of the Fourth Amended Joint Plan of Reorganization.

Vista Proppants and Logistics reached effectiveness of its Fourth Amended Joint Plan of Reorganization, as reported in the effective-date notice Dkt. 748 filed on November 6, 2020. The company filed its Chapter 11 petition Dkt. 1 on June 9, 2020, and the court entered the confirmation order Dkt. 717 on October 28, 2020, establishing reorganization as the case’s operative outcome.

Vista was a vertically integrated frac sand producer and logistics operator serving oil and gas producers. In her June 10, 2020 first-day declaration Dkt. 35, CFO Kristin Whitley attributed the liquidity crisis to declining oil and natural gas markets and reduced frac sand demand, compounded by COVID-19 disruptions. Vista furloughed employees and reduced operations to minimal levels, but negotiations with its lenders and efforts to secure alternative financing did not resolve its liquidity needs. It pursued Chapter 11 to preserve the business as a going concern and eliminate costly obligations.

The restructuring began with senior-lender support for a plan and proposed financing from Ares Capital Corporation and PlainsCapital Bank, described in Gary Barton’s June 10 restructuring declaration Dkt. 36. The July 16, 2020 final DIP financing order Dkt. 219 authorized a commitment of up to $11 million and use of cash collateral, with priming liens, superpriority protection and spending controls tied to a 13-week budget. The financing framework provided the liquidity authority for the lender-supported reorganization that subsequently reached confirmation and effectiveness.