Monday, October 24, 2016

Linn Energy Files Plan of Reorganization

The proposed hearing dates on the adequacy of the proposed disclosure statement and confirmation for the LINN Debtors’ plans are December 8, 2016 and January 24, 2017, respectively.

The plan calls for LINN equity to be extinguished:

On the Effective Date, existing Interests in LINN and LinnCo shall be deemed canceled, discharged, released, and extinguished, and there shall be no distribution to Holders of Interests in LINN and LinnCo on account of such Interests.
LINE has also had a major squeeze in price.

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