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REORGANIZATION ITEMS, NET (Tables)
 12 Months Ended
Dec. 31, 2014
REORGANIZATION ITEMS, NET  
Schedule of 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

 

 

 

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.