HOUSTON, July 14, 2016 — King & Spalding served as primary debtor’s counsel to Juniper GTL LLC on the confirmation of its Chapter 11 plan, associated with a sale of substantially all its assets, which was approved yesterday by a U.S. Bankruptcy Court in the Southern District of Texas. The plan results in the payment of approximately $41 million to creditors, satisfying nearly 90 percent of all creditor claims in the case.
Juniper’s purchaser is expected to complete and operate the Juniper GTL (“gas-to-liquids”) petrochemical plant, which was designed to produce products such as diesel fuel, naphtha, drilling fluids and waxes, and is located in Westlake, Louisiana.
The King & Spalding team on this matter included Houston-based Financial Restructuring partners Mark W. Wege and Edward L. Ripley and associate Jason S. Sharp.
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