BT and MK Energy Commodities, LLC filed a first amended plan of reorganization and related disclosure statement for Reostar Energy Corp. in the US Bankruptcy Court on June 25, 2012. Under the amended plan, there is no change in treatment of various claimant classes. The administrative claims of $0.15 million, allowed professional claims of $0.75 million, priority tax claims and statutory fees will be paid in full in cash. Allowed secured tax claims of $0.02 million will be paid in full in cash at the rate of 12.0% per year, in 6 equal monthly payments beginning on the first day of the month following the effective date. Allowed secured claims of BT & MK Energy and Commodities LLC of $11.2 million will be paid 100% of the New Equity Interests in the Reorganized Debtors in exchange for a reduction of $7 million and the Senior Secured Note $4.2 million. After the confirmation hearing and before the effective date, BTMK will conduct an auction of the New Equity Interests to determine whether a bid higher than the $7 million provided by BTMK pursuant to the Plan for the New Equity Interests. BTMK will be allowed to make a credit bid for an allowed secured claim in excess of $7 million at the auction, if it elects to do so. The proceeds from the auction of 100% of the New Equity Interests will be paid to BTMK. Allowed non-tax priority unsecured claims will be paid in full in cash. General unsecured claims of $3.85 million will be paid 30% of their allowed claims over 36 monthly payments without interest. Subordinated and penalty claims will be paid nothing under the plan. All equity interests and subordinated interests in the debtor will be cancelled. The plan will be funded from cash in hand and funding of the purchase price.