Alpine Summit’s plan rejected by two of three voting classes

By Sarah Lizee

Olympia, Wash., Feb. 21 – Alpine Summit Energy Partners, Inc.’s Chapter 11 plan of liquidation was rejected by two of the three voting creditor classes, according to a tabulation summary filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The one holder of $43.26 million of prepetition credit agreement claims voted to accept the plan.

Meanwhile, 162 holders, or 73.97% in number, of $23.65 million, or 58.95% in amount, of statutory lien claims voted to accept the plan, while 57 holders, or 26.03% in number, of $16.47 million, or 41.05% in amount, voted to reject the plan.

And 95 holders, or 35.71% in number, of $45.25 million, or 65.1% in amount, of general unsecured claims voted to accept the plan, while 171 holders, or 64.29% in number, of $24.26 million, or 34.9% in amount, voted to reject the plan.

The plan hearing is scheduled for Feb. 22.

Nashville-based Alpine Summit Energy Partners develops, owns and operates oil and gas properties in several formations in Texas. The company filed bankruptcy on July 5, 2023 under Chapter 11 case number 23-90739.

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