Case Background

The Abeinsa Litigation Trust (the “Trust”) was formed pursuant to the Debtors’ Modified First Amended Plans of Reorganization and Liquidation, dated December 6, 2016, filed with the United States Bankruptcy Court for the District of Delaware in the Chapter 11 Cases of Abeinsa Holding Inc. and Its affiliated debtors (the "Plan") to (a) investigate, prosecute, settle, liquidate or dispose of the Litigation Trust Causes of Action, (b) adjudicate the Retained Claims, and (c) subject to the provisions of the Plan, including, without limitation, Article IV.F. of the Plan, (d) holding the Controlled Funds in accordance with the Plan, and (e) delivering the Litigation Trust Proceeds and other Controlled Funds to the Responsible Person in accordance with Plan for Distribution to the Holders of Allowed Claims entitled to a portion of the EPC Reorganizing Distribution.

The Litigation Trust Agreement was entered into on March 31, 2017 by and among (i) Abener Teyma Mojave General Partnership; Abener North America Construction, L.P.; Abeinsa Abener Teyma General Partnership; Teyma Construction USA, LLC; Teyma USA & Abener Engineering and Construction Services General Partnership; Abeinsa EPC LLC; Abeinsa Holding Inc.; Abener Teyma Hugoton General Partnership; Abengoa Bioenergy New Technologies, LLC; Abener Construction Services, LLC; Abengoa US Holding, LLC; Abengoa US, LLC; and Abengoa US Operations, LLC (each an “EPC Reorganizing Debtor” and, collectively, the “EPC Reorganizing Debtors” acting by and through Jeffrey D. Bland in his capacity as Responsible Person (pursuant to the Plan), and (ii) Drivetrain, LLC, as Litigation Trustee.

The Plan contemplates, among other things, that the Trust is created for the benefit of Holders of Allowed Claims entitled to a portion of the EPC Reorganizing Distribution. On March 31, 2017, Bankruptcy Court entered its Confirmation Order and the Plan became effective, the Litigation Trust Causes of Action vested to the Trust, and the Litigation Trust Assets were transferred to the Trust. Included among these Litigation Trust Causes of Action are all actions that arise under Bankruptcy Code  section 544, 545, 548, 549, 550 and 551 of the Bankruptcy Code (and similar state or common law), and actions that arise under Bankruptcy Code section 547, subject to limitations.

The Controlled Funds are held by the Litigation Trustee in segregated account in trust for the benefit of the applicable Entity and to be paid to Allowed Claimants as set forth in the Plan and the Confirmation Order. The monies included in this account includes the $20,000,000 contribution from Abengoa S.A. for the EPC Reorganizing Plan and the proceeds from liquidations by the Responsible Person including the Teyma Receivable, the Tax Attribute Contribution, the Fulcrum Asset, the ATMGP inventories, and proceeds from the ABNT Pilot Plant.

The Responsible person, in accordance with the Plan, is solely responsible for all EPC Reorganization Distributions.

For information related to the chapter 11 cases of Abeinsa Holding Inc. Case No. 16-10790 pending in the United States Bankruptcy Court for the District of Delaware, please click here.


For questions regarding the AbeinsaLitigation Trust, please contact:

Litigation Trust Trustee
c/o Tim Daileader and Alan Carr
Drivetrain, LLC
410 Park Avenue, Suite 900
New York, NY 10022
tdaileader@drivetrainllc.com

Important Information & Dates

Disclaimer

Please be advised that this Website (the “Website”) has been established and is being independently maintained and operated by the Litigation Trustee, and is not sanctioned by Abengoa North America, Abengoa S.A., the Bankruptcy Court, or the District Court. Although the Litigation Trustee has taken all reasonable efforts to ensure the accuracy of the information contained on this Website, the Website does not contain or comprise the official or complete records of the Bankruptcy Court or the District Court.

In addition, the Trustee does not warranty the accuracy, completeness, or timeliness of the information provided on this Website, and do not undertake any obligation to update, modify, revise or re-categorize the information provided on this Website. The Litigation Trustee shall not be liable for any loss or injury arising out of or caused in whole or in part the acts, errors or omissions of any person, whether negligent or otherwise, in procuring, compiling, collecting, interpreting, reporting, communicating or delivering the information contained on this Website.

This Website should not be relied upon as a substitute for financial, legal or other professional advice. The Litigation Trustee cannot provide financial, legal or other professional advice to any person relating to the Litigation Trust. Because the financial and legal consequences of holding an interest in the Litigation Trust or related distributions are complex, you should not act or rely on any information contained in or referenced by this Website without seeking the advice of a qualified professional.

 

Retained Claim Objections

The Bankruptcy Court had set the following deadlines for filing proofs of claim against the Debtors:


 • General Bar Date: September 26, 2016 at 5:00 p.m. (ET)
 • Administrative Claims Bar Date: May 1, 2017 at 5:00 p.m. (ET)
 • Governmental Bar Date: November 7, 2016 at 5:00 p.m. (ET)

For information regarding scheduled and filed Proofs of Claim maintained by Prime Clerk as claims agent, please click here.

 

Links for Fulcrum/ Sierra Biofuels Plant:

https://www.energy.gov/sites/prod/files/nepapub/nepa_documents/RedDont/EA-1848-FEA-2011.pdf

http://fulcrum-bioenergy.com/partners/abengoa/

http://biomassmagazine.com/articles/14819/abengoa-to-build-msw-to-biofuels-plant-for-fulcrum-bioenergy

http://fulcrum-bioenergy.com/wp-content/uploads/2018/05/2018-05-16-Sierra-Groundbreaking-FINAL-1.pdf

http://fulcrum-bioenergy.com/company/projects/

Dates

March
31

Effective Date of the Pl...

2017
March
31
2017

Effective Date of the Plan and Creation of the Litigation Trust

Parties

Litigation Trust Trustee

Drivetrain, LLC

410 Park Avenue, Suite 900
New York, NY   10022
https://www.drivetrainllc.com/
Alan Carr
Tim Daileader