New Era Energy & Digital has received final court approval for its settlement with the United States Trustee for the bankruptcy estates of Acacia Resources LLC and Acacia Operating Company LLC. The U.S. Bankruptcy Court for the Western District of Texas approved the settlement on July 9, under which the company defendants will pay a total of $1 million, with $350,000 going to the State of New Mexico and $650,000 to the trustee on behalf of the Acacia Resources bankruptcy estate. The payment is due within five business days of the court's approval order. The settlement resolves all trustee-controlled claims in the State of New Mexico's lawsuit against the company and certain related parties, and upon receipt of the payment, the trustee will release its defendants from those claims and dismiss them with prejudice. The State of New Mexico will continue to pursue three claims against E. Will Gray II in his individual capacity, while its five claims against the company itself are dismissed.
New Era Energy & Digital, Inc.Final court approval of settlement resolves trustee claims, removing legal uncertainty.