All Star Gas Corporation Files Plan of Reorganization; Filing Plan is Next Step toward Enabling Company to Emerge from Bankruptcy as Operations Continue.Energy Editors/Business Editors LEBANON, Mo.--(BUSINESS WIRE)--Feb. 3, 2004 All Star Gas Corporation today announced that it filed a Plan of Reorganization with the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. on Dec. 31, 2003, a key step toward emerging from bankruptcy protection. The company is preparing additional filings and intends to move quickly to secure court approval of the Plan. In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , All Star Gas will continue providing propane propane, CH3CH2CH3, colorless, gaseous alkane. It is readily liquefied by compression and cooling. It melts at −189.9°C; and boils at −42.2°C;. to all of its customers as it has done throughout the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). process. "Our number one priority has been and remains today to continue operating as a safe, reliable supplier of propane for our customers during the restructuring process, and filing this Plan of Reorganization marks another positive milestone toward improving the long-term health of All Star Gas," said John Gordon John Gordon may mean:
(character) brace - left brace or right brace. for the coldest months of winter, All Star Gas is well prepared to continue meeting the needs of our customers and providing high levels of service." All Star Gas filed for Chapter 11 reorganization protection on July 21, 2003, and on Aug. 21, 2003, announced that it had secured interim financing Interim financing A short-term loan made to a company on the condition that a takeout will follow with long-term or intermediate financing. interim financing The financing that supports a transaction until permanent financing can be arranged. to support operations and to purchase gas for the 2003-2004 fall and winter season. "The interim financing has enabled All Star Gas to keep customers well-stocked with gas even during this peak in the winter season," said Gordon. All of the company's 58 retail locations are continuing to operate throughout the restructuring process. For more than 30 years, All Star Gas has provided dependable, affordable propane to residential and business customers. The company and its subsidiaries currently supply approximately 48,000 customers in Arkansas, Arizona, Colorado, Missouri, Oklahoma and Wyoming. Further information on All Star Gas is accessible at www.allstargas.com. |
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