- Current report filing (8-K)
27 5월 2009 - 7:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): May 21, 2009
Rio Vista Energy Partners
L.P.
(Exact name of registrant as
specified in its charter)
|
|
|
|
|
Delaware
|
|
000-50394
|
|
20-0153267
|
(State or other Jurisdiction of Incorporation)
|
|
(Commission File Number)
|
|
(IRS Employer Identification No.)
|
|
|
|
1313 E. Alton Gloor Blvd.,
Suite J
Brownsville, Texas
|
|
78526
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Registrant’s telephone number,
including area code:
(956) 831-0886
|
Inapplicable
|
(Former name or former address if changed since last report.)
|
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1
|
|
|
Item 2.04.
|
|
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
|
On May 21, 2009, Rio Vista Penny LLC (Rio Vista Penny), an indirect,
wholly-owned subsidiary of Rio Vista Energy Partners L.P. (Rio Vista) received a notice
of events of default demand for cure (Default Notice) from TCW Asset Management
Company (TAMCO) as administrative agent in connection with the Note Purchase Agreement,
dated November 19, 2007 (the TCW Credit Facility) between TCW and Rio Vista Penny. In
addition, on May 21, 2009, Rio Vista Penny also received a notification of disposition of
collateral (Disposition of Collateral) from TCW in connection with the TCW Credit
Facility. On May 22, 2009, Rio Vista Penny also received a notice of demand and
acceleration of indebtedness (Acceleration of Indebtedness) from TCW in connection with
the TCW Credit Facility (collectively, the Default Notice, Disposition of Collateral and
Acceleration of Indebtedness are referred to as the TCW Actions).
The TCW Actions were the result of Rio Vista Pennys failure to meet the payment
obligations under the TCW Credit Facility (including the December 2008 and March 2009
principal payments and interest payments due) and the failure of Rio Vista Penny to deliver
the required engineering report as defined under the TCW Credit Facility by December 1, 2008
(the Defaults). The Defaults were previously waived by TCW through May 20, 2009 pursuant
to letter agreements between TCW and Rio Vista Penny.
In connection with the TCW Actions, TCW is demanding immediate payment of the entire
amount owing under the TCW Credit Facility (principal of $24,700,000 plus accrued interest
from September 28, 2008). In addition, TCW provided Rio Vista Penny with notice that it
intends to foreclose its security interest in certain collateral as provided under the
related security documents issued in connection with the TCW Credit Facility. This
collateral consists of a) the 100% membership interest in Rio Vista Penny and b) the 100%
membership interest in Rio Vista GO LLC, an indirect, wholly owned subsidiary of Rio Vista
(the Collateral). Under the terms of the foreclosure, TCW desires to sell the Collateral
on May 27, 2009 to the highest qualified bidder. TCW has indicated its right to credit bid
for the Collateral.
In addition to the TCW Actions, TCW has the right to convert the outstanding principal
amount of the TCW Credit Facility into common units of Rio Vista.
Rio Vistas management is in discussions with TCW to restructure the TCW Credit
Facility. Although no definitive agreement has been reached, these discussions include
surrendering to TCW all of the Oklahoma Assets described in Rio Vistas Annual Report on
Form 10-K for the fiscal year ended December 31, 2008 and the issuance by Rio Vista of its
common units in satisfaction of outstanding indebtedness.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
|
|
|
|
|
|
|
|
|
|
|
RIO VISTA ENERGY PARTNERS L.P.
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
Rio Vista GP LLC, its
|
|
|
|
|
General Partner
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Ian T. Bothwell
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name:
|
|
Ian T. Bothwell
|
|
|
|
|
|
|
Title:
|
|
Acting Chief Executive
Officer, Acting President,
Vice President, Chief
Financial Officer,
Treasurer and Assistant
Secretary (Principal
Executive, Financial and
Accounting Officer)
|
Date: May 26, 2009
Rio Vista Energy Partners (NASDAQ:RVEP)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
Rio Vista Energy Partners (NASDAQ:RVEP)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024