EME Reorganization Trust Announces Cash Distribution

Aug 31, 2015, 08:00 ET from EME Reorganization Trust

WASHINGTON, Aug. 31, 2015 /PRNewswire/ -- EME Reorganization Trust (OTCBB: EMEZU) announced that its board of managing trustees has approved a net cash distribution of $0.00515 per beneficial interest. The distribution will be paid on September 24, 2015 to all record holders of beneficial interests as of the close of business on September 14, 2015.  Immediately prior to the distribution, there will be 3,853,697,304 issued and outstanding beneficial interests of the Trust.   

Record Date: September 14, 2015
Payment Date: September 24, 2015
Net Distribution Amount: $0.00515 per beneficial interest

The distribution is being made out of (a) funds released from the disputed claims reserve as a result of (i) the resolution of claims asserted by General Electric Railcar Services Corporation, the Illinois Department of Revenue, Cargo Carriers and the Chicago Bears Football Club and (ii) a reduction in the amount of the claim asserted by Liberty Mutual Insurance Company and (b) cash receipts related to Edison Mission Finance Company's intercompany claim against EME Homer City Generation LP.            

The gross amount of the distribution will be approximately $23.3 million.  After taking into account certain fees payable to Bluescape Advisors LLC, which were previously approved by the Bankruptcy Court, the net distribution to holders of beneficial interests will be approximately $19.8 million.  

EME Reorganization Trust was formed in connection with the confirmation and consummation of the Third Amended Joint Chapter 11 Plan of Reorganization (with Technical Modifications) for Edison Mission Energy and certain of its subsidiaries (the Plan). The Plan became effective on April 1, 2014. The primary purpose of the EME Reorganization Trust is to resolve claims, liquidate remaining assets and make distributions as appropriate to holders of its beneficial interests.

 

SOURCE EME Reorganization Trust