While reading through the plan. I come across this..
(a) Classification: Class 7 consists of all Unsecured Notes Claims against any
Debtor.
(b) Allowance: The Unsecured Notes Claims shall be deemed Allowed in the amount
of $[__].
(c) Treatment: Except to the extent that a Holder of an Allowed Unsecured Notes
Claim agrees to less favorable treatment, on the Effective Date, in full and final
satisfaction, compromise, settlement, and release of and in exchange for such
Allowed Unsecured Notes Claim, each Holder of an Unsecured Notes Claim shall
receive, up to the full amount of such Holder’s Allowed Unsecured Notes Claim,
its Pro Rata share (taken together with the Second Lien Notes Claims) of any cash
remaining in the Wind-Down Reserve once all Allowed Claims entitled to
payment therefrom have been satisfied, no Disputed Claims that may be entitled
to payment from such sources remain to be adjudicated, and all First Lien Claims
have been satisfied in full.
(d) Voting: Class 7 is Impaired under the Plan. Therefore, holders of Unsecured ...
This is the part I find interesting. Is this saying the unsecured notes will be thrown into the same batch (taken together with the Second Lien Notes Claims) and paid out together on it's pro rata share?
Allowed Unsecured Notes Claim, each Holder of an Unsecured Notes Claim shall
receive, up to the full amount of such Holder’s Allowed Unsecured Notes Claim,
its Pro Rata share (taken together with the Second Lien Notes Claims) of any cash
remaining in the Wind-Down Reserve once all Allowed Claims entitled to
payment therefrom have been satisfied, no Disputed Claims that may be entitled
to payment from such sources remain to be adjudicated, and all First Lien Claims
have been satisfied in full.
