Principal Ronald Barliant Presides Over Chapter 11 Bankruptcy Mediation

January 12, 2007

Principal Ronald Barliant presided over the mediation between U.S. Energy Biogas Corporation (USEB) and Countryside Power Income Fund in New York City on January 12-13, 2007. 

The agreement between USEB and Countryside concerns USEB’s Chapter 11 filing in the United States Bankruptcy Court for the Southern District of New York in 2006.  The agreement will allow USEB and its parent, U.S. Energy Systems, Inc., to establish new financing and pay all of its creditors in full.  The agreement provides for Countryside to have an allowed secured claim of approximately $99,000,000, the only allowed claim they will have in the case.  USEB plans to move towards a plan of Chapter 11 reorganization pending the agreement’s approval by the United States Bankruptcy Court in the Southern District of New York and each party’s respective boards.

Hunton & Williams LLP and WilmerHale LLP represented USEB in the mediation and Chapter 11 cases.   Simpson Thatcher & Bartlett LLP served as Countryside’s legal adviser.