GMX Resources Chapter 11 plan approved by majority of voting creditors

By Lisa Kerner

Charlotte, N.C., Jan. 16 - GMX Resources Inc.'s first amended joint plan of reorganization was approved by voting creditors, according to a Thursday filing with the U.S. Bankruptcy Court for the Western District of Oklahoma.

Specifically, all 49 holders of a combined $318.22 million in senior secured noteholder secured claims and 186 holders of a combined $185.54 in general unsecured claims voted to accept the plan.

Nine holders of a combined $2.27 million in general unsecured claims voted to reject the plan.

The company's disclosure statement was approved on Dec. 3.

Oklahoma City-based GMX Resources explores, develops and produces properties for the production of crude oil and natural gas. The company filed for bankruptcy on April 1, 2013 under Chapter 11 case number 13-11456.

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