January 22, 2018 3:50 PM ET

Marine

Company Overview of UABL Limited

Company Overview

UABL Limited manages and operates river barges. The company is based in Bahamas. UABL Limited operates as a subsidiary of Ultrapetrol (Bahamas) Limited.

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Bahamas

Key Executives for UABL Limited

UABL Limited does not have any Key Executives recorded.

UABL Limited Key Developments

Pre-Packaged Reorganization Plan Approved for Ultrapetrol (Bahamas) Limited

The US Bankruptcy Court approved the pre-packaged reorganization plan of Ultrapetrol (Bahamas) Limited on March 17, 2017. As per the approved plan, Administrative Claims of $14.80 million, Priority Tax Claims of $2.50 million, Fee Claims of $9.10 million and US Trustee Fees shall be paid full in cash. 2021 Note Claims of $257.39 million shall recover 24% of the claim, amounting to $61.77 million and will be paid in cash. IFC-OFID Loan Claims of $68.20 million shall recover 30.4% of the claim, amounting to $20.73 million and will be paid in cash. Offshore Lender Parent Claims of $164.60 million shall be cancelled and discharged. Other Secured Claims of $0.90 million shall be paid in cash. General Unsecured Claims of $13.30 million shall be fully reinstated. General Unsecured Claims (Cornamusa) shall recover 1.20% of the allowed amount and will be paid in cash. Equity Interests in River Business Holding Company Debtors and Equity Interests in Cornamusa, shall be cancelled and discharged. Equity Interests in River Business Debtors Other than Cornamusa shall be fully reinstated and Equity Interests in Parent shall be unimpaired. The plan will be funded through cash consideration, issuance of new common stock.

Pre-Packaged Reorganization Plan and Disclosure Statement Filed by Ultrapetrol (Bahamas) Limited

Ultrapetrol (Bahamas) Limited filed a prepackaged reorganization plan with related disclosure statement in the US Bankruptcy Court on February 6, 2017. As per the plan filed, Administrative Claims of $14.80 million, Priority Tax Claims of $2.50 million, Fee Claims of $9.10 million and US Trustee Fees shall be paid full in cash. 2021 Note Claims of $257.39 million shall recover 24% of the claim, amounting to $61.77 million and will be paid in cash. IFC-OFID Loan Claims of $68.20 million shall recover 30.4% of the claim, amounting to $20.73 million and will be paid in cash. Offshore Lender Parent Claims of $164.60 million shall be cancelled and discharged. Other Secured Claims of $0.90 million shall be paid in cash. General Unsecured Claims of $13.30 million shall be fully reinstated. General Unsecured Claims (Cornamusa) shall recover 1.20% of the allowed amount and will be paid in cash. Equity Interests in River Business Holding Company Debtors and Equity Interests in Cornamusa, shall be cancelled and discharged. Equity Interests in River Business Debtors Other than Cornamusa shall be fully reinstated and Equity Interests in Parent shall be unimpaired. The plan will be funded through cash consideration, issuance of new common stock.

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Recent Private Companies Transactions

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