REORGANIZATION ITEMS, NET

12 Months Ended

Dec. 31, 2014

21 — REORGANIZATION ITEMS, NET

“Reorganization items, net” represent amounts incurred and recovered subsequent to the bankruptcy filing as a direct result of the filing of the Chapter 11 Cases. See Note 28 for details associated with the restatement of the previously reported components of Reorganization items, net. Reorganization items, net (as restated) are comprised of the following:

	Successor		Predecessor			Predecessor			Predecessor
	Period from July 9 to December 31, 2014		Period from January 1 to July 9, 2014 (As Reported)			Period from January 1 to July 9, 2014 Adjustment (c)			Period from January 1 to July 9, 2014 (As Restated)
Professional fees incurred	$	968	$	34,981		$	—		$	34,981
Trustee fees incurred	623		251			—			251

Total reorganization fees	$	1,591	$	35,232		$	—		$	35,232


Gain on settlement of liabilities subject to compromise	$	—	$	(1,187,689	)	$	1,187,689		$	—
Net gain on debt and equity discharge and issuance	—		(775,086		)	775,086			—
Gain on settlement of liabilities subject to compromise in exchange for equity issuance, net (a)	—		—			(33,832		)	(33,832		)
Fresh-start reporting adjustments (b)	—		1,045,376			(131,136		)	914,240

Total fresh-start adjustment	$	—	$	(917,399	)	$	1,797,807		$	880,408


Total reorganization items, net	$	1,591	$	(882,167	)	$	1,797,807		$	915,640

(a)

For determination of this amount see footnote (a), subnote 1. in Note 1 under the table “Fresh-Start Adjustments.”

(b)

For determination of this amount see footnote (c) in Note 1 under the table “Fresh-Start Adjustments.”

(c)

See Note 28 — Restatement of Consolidated Financial Statements of the Predecessor Company.