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Gold/Mining/Energy : Shale Natural Gas, Oil and NGLs and ESA
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To: LLCF who wrote (6081)11/30/2012 9:48:18 AM
From: Glenn Petersen   of 6160
 
As part of the Forbearance Agreement the Obligors agree to take specific actions including the retention of a Chief Restructuring Officer and providing to the United Bank on-going reports regarding its business operations and cash flow, among other matters. The Chief Restructuring Officer must prepare a restructuring plan for the Registrant that provides for the sale of S.T. Pipeline, and must prepare recommendations relating to the on-going operations of Nitro Electric Company, Inc., C.J. Hughes Construction Company and Contractors Rental Corporation. The Forbearance Agreement may be terminated upon certain events, and in any case on May 31, 2013.
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