THIRD MODIFICATION TO 2ND AMENDED JOINT PLAN OF REORGANIZATION
Published on
Exhibit 2.4
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
IN RE
|
: | Jointly Administered | ||
| : | Case No. 02-10429 (JKF) | |||
Kaiser Aluminum Corporation,
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a Delaware corporation, et al.,
|
: | Chapter 11 | ||
Debtors.
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: | |||
| : | ||||
(Kaiser Aluminum Corporation)
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: | (Case No. 02-10429 (JKF)) | ||
(Kaiser Aluminum & Chemical Corporation)
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: | (Case No. 02-10430 (JKF)) | ||
(Akron Holding Corporation)
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: | (Case No. 02-10431 (JKF)) | ||
(Kaiser Aluminum & Chemical Investment, Inc.)
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: | (Case No. 02-10433 (JKF)) | ||
(Kaiser Aluminium International, Inc.)
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: | (Case No. 02-10434 (JKF)) | ||
(Kaiser Aluminum Properties, Inc.)
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: | (Case No. 02-10435 (JKF)) | ||
(Kaiser Aluminum Technical Services, Inc.)
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: | (Case No. 02-10436 (JKF)) | ||
(Kaiser Bellwood Corporation)
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: | (Case No. 02-10437 (JKF)) | ||
(Kaiser Micromill Holdings, LLC)
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: | (Case No. 02-10439 (JKF)) | ||
(Kaiser Texas Micromill Holdings, LLC)
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: | (Case No. 02-10440 (JKF)) | ||
(Kaiser Sierra Micromills, LLC)
|
: | (Case No. 02-10441 (JKF)) | ||
(Kaiser Texas Sierra Micromills, LLC)
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: | (Case No. 02-10442 (JKF)) | ||
(Oxnard Forge Die Company, Inc.)
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: | (Case No. 02-10443 (JKF)) | ||
(Alwis Leasing LLC)
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: | (Case No. 02-10818 (JKF)) | ||
(Kaiser Center, Inc.)
|
: | (Case No. 02-10819 (JKF)) | ||
(KAE Trading, Inc.)
|
: | (Case No. 03-10145 (JKF)) | ||
(Kaiser Aluminum & Chemical Investment Limited (Canada))
|
: | (Case No. 03-10146 (JKF)) | ||
(Kaiser Aluminum & Chemical Of Canada
Limited (Canada))
|
: | (Case No. 03-10147 (JKF)) | ||
(Kaiser Bauxite Company)
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: | (Case No. 03-10148 (JKF)) | ||
(Kaiser Center Properties)
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: | (Case No. 03-10149 (JKF)) | ||
(Kaiser Export Company)
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: | (Case No. 03-10150 (JKF)) | ||
(Texada Mines Ltd. (Canada))
|
: | (Case No. 03-10152 (JKF)) |
THIRD MODIFICATION TO THE SECOND AMENDED JOINT PLAN OF
REORGANIZATION OF KAISER ALUMINUM CORPORATION, KAISER ALUMINUM
& CHEMICAL CORPORATION AND CERTAIN OF THEIR DEBTOR AFFILIATES
REORGANIZATION OF KAISER ALUMINUM CORPORATION, KAISER ALUMINUM
& CHEMICAL CORPORATION AND CERTAIN OF THEIR DEBTOR AFFILIATES
Gregory M. Gordon (TX 08435300)
|
Daniel J. DeFranceschi (DE 2732) | |
Henry L. Gompf (TX 08116400)
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RICHARDS, LAYTON & FINGER, P.A. | |
Troy B. Lewis (TX 12308650)
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One Rodney Square | |
Daniel P. Winikka (TX 00794873)
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Wilmington, Delaware 19899 | |
JONES DAY
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Telephone: (302) 651-7700 | |
2727 North Harwood
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Facsimile: (302) 651-7701 | |
Dallas, Texas 75201 |
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Telephone: (214) 220-3939
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ATTORNEYS FOR DEBTORS AND | |
Facsimile: (214) 969-5100
|
DEBTORS IN POSSESSION |
Dated: December 16, 2005
Subject to approval by the Bankruptcy Court and pursuant to this Third Modification to the
Second Amended Joint Plan of Reorganization of Kaiser Aluminum Corporation, Kaiser Aluminum &
Chemical Corporation and Certain of Their Debtor Affiliates, the Debtors effect the following
changes to the Second Amended Joint Plan of Reorganization of Kaiser Aluminum Corporation, Kaiser
Aluminum & Chemical Corporation and Certain of Their Debtor Affiliates (the “Plan”):
Modifications to the Plan
Section 5.1.e(ii) of the Plan is hereby amended to add following as the last sentence:
“The Funding Vehicle Trust shall, effective upon its creation and without any further action,
be deemed to be a party to any settlement agreement with a PI Insurance Company that by its terms
includes the Funding Vehicle Trust as a party and that has been approved by a final order of the
Bankruptcy Court and to be subject to, and bound by, the settlement agreement and such final
approval order approving such settlement agreement.”
The first sentence of Section 5.1.g of the Plan is hereby replaced by the following sentence:
“Any PI Insurance Coverage Action and the claims and causes of action asserted or to be
asserted therein shall be preserved solely for the benefit of the Funding Vehicle Trust for
prosecution either by Reorganized KACC or the Funding Vehicle Trustees (as mutually agreed by such
parties) subsequent to the Effective Date and in accordance with the Funding Vehicle Trust
Agreement.”
Section 5.2.e of the Plan is hereby amended to add following as the last sentence:
“The Asbestos PI Trust shall, effective upon its creation and without any further action, be
bound by and subject to any settlement agreement with a PI Insurance Company and such final
approval order, if any, approving such settlement agreement as to which the Funding Vehicle Trust
is bound. The Asbestos PI Trust shall also be bound at the request of the Funding Vehicle Trust to
comply with any obligations of the Funding Vehicle Trust under or with respect to such settlement
and approval order, if applicable, as contemplated by section 5.1.e(ii) that are applicable to the
Asbestos PI Trust.”
Section 5.3.e of the Plan is hereby amended to add following as the last sentence:
“The Silica PI Trust shall, effective upon its creation and without any further action, be
bound by and subject to any settlement agreement with a PI Insurance Company and such final
approval order, if any, approving such settlement agreement as to which the Funding Vehicle Trust
is bound. The Silica PI Trust shall also be bound at the request of the Funding Vehicle Trust to
comply with any obligations of the Funding Vehicle Trust under or with respect to such settlement
and approval order, if applicable, as contemplated by section 5.1.e(ii) that are applicable to the
Silica PI Trust.”
Section 5.4.d of the Plan is hereby amended to add following as the last sentence:
“The CTPV PI Trust shall, effective upon its creation and without any further action, be bound
by and subject to any settlement agreement with a PI Insurance Company and such final approval
order, if any, approving such settlement agreement as to which the Funding Vehicle Trust is bound.
The CTPV PI Trust shall also be bound at the request of the Funding Vehicle Trust to comply with
any obligations of the Funding Vehicle Trust under or with respect to such settlement and approval
order, if applicable, as contemplated by section 5.1.e(ii) that are applicable to the CTPV PI
Trust.”
Section 5.5.d of the Plan is hereby amended to add following as the last sentence:
“The NIHL PI Trust shall, effective upon its creation and without any further action, be bound
by and subject to any settlement agreement with a PI Insurance Company and such final approval
order, if any, approving such settlement agreement as to which the Funding Vehicle Trust is bound.
The NIHL PI Trust shall also be bound at the request of the Funding Vehicle Trust to comply with
any obligations of the Funding Vehicle Trust under or
with respect to such settlement and approval order, if applicable, as contemplated by section
5.1.e(ii) that are applicable to the NIHL PI Trust.”
Section 12.2.b of the Plan is hereby amended in its entirety to read as follows:
“b. In addition to the injunctions provided in the PI Channeling Injunctions, except as
provided in the Plan, the Confirmation Order or the environmental Settlement Agreement, as of the
Effective Date, all entities that have held, currently hold or may hold any claims, obligations,
suits, judgments, damages, demands, debts, rights, causes of action or liabilities that are
released pursuant to the Plan, including pursuant to Section 4.5, will be permanently enjoined from
taking any of the following actions against any released entity or its property on account of such
released claims, obligations, suits, judgments, damages, demands, debts, rights, causes of action
or liabilities: (i) commencing or continuing in any manner any action or other proceeding; (ii)
enforcing, attaching, collecting or recovering in any manner any judgment, award, decree or order;
(iii) creating, perfecting or enforcing any lien or encumbrance; (iv) asserting a setoff, right of
subrogation or recoupment of any kind against any debt, liability, or obligation due to any
released entity; and (v) commencing or continuing any action, in any manner, in any place that does
not comply with or is inconsistent with the Plan.”
Section 1.4 of the form of Funding Vehicle Trust Agreement previously filed with the
Bankruptcy Court as Exhibit 1.1(102) to the Plan is hereby amended to add the following as Section
1.4(c):
“(c) The Funding Vehicle Trust shall have the obligations specified as being applicable to it
under the Plan, including those obligations set forth in Section 5.1.e of the Plan.”
The list of Settling Insurance Companies previously filed with the Bankruptcy Court as Exhibit
1.1(185) to the Plan is hereby amended to read as set forth on the attached Exhibit 1.1(185). A
blacklined version of Exhibit 1.1(185), marked to show changes from the version that was previously
filed with the Court, is also attached hereto.
Attachments B and E to Silica Distribution Procedures previously filed with the Bankruptcy
Court as part of Exhibit 1.1(186) to the Plan are hereby amended to read as set forth on the
attached Attachments B and E to Exhibit 1.1(186). Blacklined versions of Attachments B and E to
Exhibit 1.1(186), marked to show changes from the versions that were previously filed with the
Court, are also attached hereto.
The Certificate of Incorporation and Bylaws of Reorganized KAC previously filed with the
Bankruptcy Court as Exhibit 4.3.a(i) are hereby amended to read as set forth on the attached
Exhibit 4.3.a(i). A blacklined version of Exhibit 4.3.a(i), marked to show changes from the
version that was previously filed with the Court, is also attached hereto.
| Dated: December 16, 2005 | Respectfully submitted, | |||||
| KAISER ALUMINUM CORPORATION | ||||||
| By: | /s/ Edward F. Houff | |||||
| Name: Edward F. Houff | ||||||
| Title: Chief Restructuring Officer | ||||||
| KAISER ALUMINUM & CHEMICAL | ||||||
| CORPORATION, on its own behalf and on behalf of each direct or indirect subsidiary Debtor | ||||||
| By: | /s/ Edward F. Houff | |||||
| Name: Edward F. Houff | ||||||
| Title: Chief Restructuring Officer | ||||||
COUNSEL: |
||
/s/ Daniel J. DeFranceschi
|
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RICHARDS, LAYTON & FINGER, P.A. |
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One Rodney Square |
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P.O. Box 551 |
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Wilmington, Delaware 19899 |
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Telephone: (302) 651-7700 |
||
Facsimile: (302) 651-7701 |
||
– and – |
||
Gregory M. Gordon (TX 08435300) |
||
Henry L. Gompf (TX 08116400) |
||
Troy B. Lewis (TX 12308650) |
||
Daniel P. Winikka (TX 00794873) |
||
JONES DAY |
||
2727 North Harwood Street |
||
Dallas, Texas 75201 |
||
Telephone: (214) 220-3939 |
||
Facsimile: (214) 969-5100 |
||
ATTORNEYS FOR DEBTORS AND |
||
DEBTORS IN POSSESSION |
EXHIBIT 1.1(185)
(Clean Version)
EXHIBIT 1.1(185)
(Blacklined Version)
ATTACHMENT B TO EXHIBIT 1.1(186)
(Clean Version)
ATTACHMENT B TO EXHIBIT 1.1(186)
(Blacklined Version)
ATTACHMENT E TO EXHIBIT 1.1(186)
(Clean Version)
ATTACHMENT E TO EXHIBIT 1.1(186)
(Blacklined Version)
EXHIBIT 4.3.A(i)
(Clean Version)
EXHIBIT 4.3.A(i)
(Blacklined Version)