Atna Resources files liquidation plan; trustee to make distributions

By Caroline Salls

Pittsburgh, Sept. 15 – Atna Resources, Inc. filed a plan of liquidation and related disclosure statement Wednesday with the U.S. Bankruptcy Court for the District of Colorado.

Atna said a liquidating trustee will distribute cash and other plan payments to creditors in accordance with the plan.

A liquidating trust will be established under the plan to administer the liquidating trust fund, resolve all disputed claims, prosecute retained causes of action and make distributions to trust beneficiaries.

Holders of administrative claims, priority tax claims and priority non-tax claims will be paid in full.

Holders of Waterton secured claims were paid in full as part of the company’s asset sale and settlement with the official committee of unsecured creditors. As a result, they will receive no further distribution under the plan.

Secured creditors will receive the collateral securing their claims or receive another treatment that renders the claims unimpaired.

Holders of general unsecured claims will receive a share of liquidating trust funds.

Equity interests will be cancelled, and holders will receive no distribution.

Based in Golden, Colo., Atna is a gold exploration and development company that filed for bankruptcy on Nov. 18, 2015. The Chapter 11 case number is 15-22848.

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