Certain Stockholders and the Company File a Plan That Proposes to Reinstate
Each Class of Noteholders and Pay All Creditors in Full in Cash
HOUSTON, Dec. 6 /PRNewswire/ -- KCS Energy, Inc. (NYSE: KCS) announced
that a third proposed plan of reorganization has been filed by certain
shareholders, with KCS Energy, Inc. as a co-proponent, in the U.S. Bankruptcy
Court for the District of Delaware ("Bankruptcy Court"). The plan proposes
full reinstatement of the Company's Senior Notes and Senior Subordinated Notes
(with past due interest paid in cash) and that all other creditors be paid in
full in cash.
Previously, the Bankruptcy Court ruled it would consider such a plan on
January 31, 2001 when it considers the other two proposed plans.
KCS is an independent energy company engaged in the acquisition,
exploration and production of natural gas and crude oil with operations in the
Mid-Continent and Gulf Coast regions. The Company also purchases reserves
(priority rights to future delivery of oil and gas) through its Volumetric
Production Payment program. For more information on KCS Energy, Inc., please
visit the Company's web site at http://www.kcsenergy.com .
SOURCE KCS Energy, Inc.
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Related links:
http://www.kcsenergy.com
CONTACT:
James W. Christmas, President and CEO of KCS
Energy, Inc., 713-877-8006, or General Info, Marilynn Meek, or
Media, Dave Closs, both of The Financial Relations Board,
212-661-8030
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