Company wants to cancel existing Equity holders if their plan is accepted. 01/29/20
Page # 20-21 of documents.
5. Equity Interests in the Debtor (Class 5) (a) Classification: Class 5 consists of Equity Interests in the Debtor. (b) Treatment: All Equity Interests in the Debtor shall be deemed canceled upon the Effective Date. (c) Impairment and Voting: Class 5 is Impaired and will receive no Distributions under the Plan and therefore, Holders of Equity Interests in the Debtor are deemed to have rejected the Plan and are not entitled to vote on the Plan.
PLEASE TAKE FURTHER NOTICE that the Sale Hearing to consider approval of the sale of the Assets to the Successful Bidder at the Auction, free and clear of all liens, claims, interests, and encumbrances in accordance with Bankruptcy Code section 363(f), will be held before the Honorable Brenda T. Rhoades, United States Bankruptcy Court, 660 North Central Expressway, Suite 300B, Plano, Texas 75074 on March 6, 2020 at 10:00 a.m. (prevailing Central Time). The Sale Hearing may be adjourned from time to time without further notice to creditors or other parties-in-interest other than by announcement of the adjournment in open court or by notice filed on the docket of this chapter 11 case.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.