New Era Energy Receives Final Court Approval For Acacia Trustee Settlement
New Era Energy & Digital, Inc. received final court approval for a $1 million settlement with the U.S. Trustee regarding Acacia entities.Summary
New Era Energy & Digital, Inc. (NUAI, NUAIW) has received final approval from the U.S. Bankruptcy Court for the Western District of Texas regarding its settlement with the United States Trustee for the bankruptcy estates of Acacia Resources LLC and Acacia Operating Company LLC. The settlement requires the company to pay a total of $1 million, which includes $350,000 to the State of New Mexico and $650,000 to the trustee on behalf of the Acacia Resources bankruptcy estate. The payments are due within five business days of the court's approval order.
This agreement resolves all trustee-controlled claims in the State of New Mexico's lawsuit against the company and certain related parties. Once the payment is received, the trustee will release the defendants from these claims and dismiss them with prejudice. While the settlement dismisses five claims against the company itself, the State of New Mexico will continue to pursue three claims against E. Will Gray II in his individual capacity.
Following the news, New Era Energy & Digital saw its stock close 6.92% higher at $2.3950 on the Nasdaq.
(Source：Finanzen.ch)