Medley Management Inc. (MDLM)

[56Chevy]

I'm a touch shocked but if I had to describe the latest news out of the court in a word it would be - Remarkable!

What came out today just doesn't happen very often in corporate bankruptcies and cerainly not this soon after the filing! This case had the typical delay delay delay written all over it but todays news may prove to change things in a hurry!


NOTICE OF FILING OF DRAFT PLAN TERM SHEET

On July 6, 2021, the above-captioned debtor and debtor-in-possession (collectively, the “Debtor”), by their undersigned counsel, filed the Combined Disclosure Statement and Chapter 11 Plan of Reorganization and Wind-Down of Medley LLC [Docket No. 244] (the “Combined Disclosure Statement and Plan”).

The Debtor intends to file an amended version of the Combined Disclosure Statement and Plan substantially in accordance with the attached Plan Term Sheet (the “Plan Term Sheet”). Attached hereto as Exhibit A is a draft of the Plan Term Sheet.

PLAN TERM SHEET

This Plan Term Sheet (the “Term Sheet”), dated July 21, 2021, sets forth the material terms of a chapter 11 plan to be filed by Medley LLC (the “Debtor”) and supported by Medley Capital LLC (“Medley Capital”) and the Official Committee of Unsecured Creditors (the “Committee” and, together with the Debtor and Medley Capital, the “Plan Parties”) appointed in the chapter 11 case of In re Medley LLC, No. 21-10526 (KBO) (Bankr. D. Del. Mar. 7, 2021) (the “Chapter 11 Case”) pending before the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”)

[....]

Source:

Court Docket #0276

https://www.kccllc.net/medley/document/list/5510

*the remarkable aspect of this to me (if this proves to be successful) is this cuts to the chase very quickly..and that does 2 very large things that you seldomly ever see in a BK. 1) it saves time. How much? Maybe 12 to 18 or more months.. 2) it saves bookoo bucks on professional fees. $$$$$.

If you're an unsecured creditor this is is how you stop the bleeding and to save as much of an estate as you can as quickly as you can.