Trigeant, owners eye mediation of plan and adversary proceeding issues

By Caroline Salls

Pittsburgh, April 1 – Trigeant Holdings Ltd. and consenting owners Harry Sargeant II, Daniel Sargeant and James Sargeant asked the U.S. Bankruptcy Court for the Southern District of Florida to refer all contested matters in Trigeant’s bankruptcy case, including all plan confirmation issues, to mediation, according to a Wednesday court filing.

The mediation would also cover issues arising in specified adversary proceedings.

Under current circumstances, the Trigeant debtors and consenting owners said they expect the plan confirmation hearing scheduled to begin on May 4 to be contested.

In an effort to determine whether a global resolution of the plan confirmation and other matters can be reached, the parties said they are prepared to mediate all outstanding issues between them and Harry Sargeant III, BTB Refining LLC, PDVSA Petroleo, SA and other interested parties.

Trigeant and the owners are requesting the mediation be scheduled to take place before the company’s April 20 hearing. At the latest, the parties said the mediation should be held by April 29.

Trigeant, a Boca Raton, Fla.-based petroleum company, filed for bankruptcy on Aug. 25, 2014. The Chapter 11 case number is 14-29027.

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