The US Bankruptcy Court approved the modified second amended joint plan of reorganization of Emerge Energy Services LP on December 18, 2019. The debtor has filed its modified second amended joint plan in the Court on December 10, 2019. As per the approved modified second amended joint plan, Administrative Claims, Professional Fee Claims, DIP Credit Agreement Claims of $35 million, Priority Tax Claims, Other Priority Claims of $1.79 million, Other Secured Claims of $0.44 million, Secured Tax Claims of $2.29 million and Prepetition Credit Agreement Claims of $27.50 million which will be recovered 99.13% i.e. $27.26 million, will be paid in full in cash. Prepetition Notes Claims of $217.26 million will be allowed 95.97% i.e. $208.51 million and will be recovered 55% i.e. $114.68 million. If General Unsecured Claims accept the plan then Prepetition Notes Claims will receive its pro rata share of (1) the New Second Lien Notes, if any; (2) the New Emerge GP Equity Interests; (3) the Preferred Interests less any Preferred Interests issued to satisfy DIP Credit Agreement Claims; and (4) 95% of the New Limited Partnership Interests issued and outstanding on the Effective Date prior to dilution by the New Management Incentive Plan Equity and any issuances pursuant to the New Warrants. If General Unsecured Claims rejects this plan then Prepetition Notes Claims will receive its pro rata share of (1) the New Second Lien Notes, if any; (2) the New Emerge GP Equity Interests; (3) the Preferred Interests less any Preferred Interests issued to satisfy DIP Credit Agreement Claims; and (4) one hundred percent (100%) of the New Limited Partnership Interests issued and outstanding on the Effective Date prior to dilution by the New Management Incentive Plan Equity. General Unsecured Claims of $573.91 million will be recovered 1.30% i.e. $7.46 million. If General Unsecured Claim holders accept this plan, then it will receive it pro rata share of (1) 5.0% of the New Limited Partnership Interests issued and outstanding on the Effective Date prior to dilution by the New Management Incentive Plan Equity and any issuances pursuant to the New Warrants and (2) New Warrants representing 10.0% of the New Limited Partnership Interests issued and outstanding on the Effective Date prior to dilution by the New Management Incentive Plan Equity. If General Unsecured Claim holders rejects this plan then General Unsecured Claims will be discharged and will not recive any distribution under the plan. Intercompany Claims will be reinstated, compromised, or cancelled, at the option of the relevant holder of such Intercompany Claims with the consent of the Majority Noteholders. Old Emerge GP Equity Interests will be canceled. For Old Emerge LP Equity Interests, if General Unsecured Claim holders accept the plan, will receive 5% of the New Limited Partnership interest issued and outstanding on the effective date prior to dilution of the New Management Incentive Plan Equity; if General Unsecured Claims rejects the plan then Old Emerge LP Equity Interests will be cancelled and will not receive any distribution under the plan. Old Affiliate Equity Interests will remain effective and outstanding on the effective date and shall be owned and held by the same applicable person(s) that held and/or owned such Old Affiliate Equity Interests immediately prior to the effective date. The plan will be funded through cash in hand, New Second Lien Notes, Exit Facility Loan and Issue of new equity interest, preferred interest and warrants.