https://www.kccllc.net/medley/document/2110526210706000000000003
"
F. Retention Plan
By and through the Combined Disclosure Statement and Plan, the Debtor’s interest in
proceeds from the Remaining Company Contracts will be assigned to the Liquidating Trust and
the Debtor expects that the net proceeds of the Remaining Company Contracts will provide a
significant recovery to Allowed Claims. Specifically, and as more fully set in the liquidation
analysis attached hereto as Exhibit A, the Debtor expects that expects that, for the period ending
ending March 31, 2022, the Remaining Company Contracts will generate approximately
$1,725,000 of profit, which will be upstreamed to the Debtor. Such revenue is,, subject to the
continuation of the Remaining Company Contracts, the most financially significant of which is an
investment advisory agreement between Sierra and SIC Advisors LLC, which the Debtor expects
to continue through at least December 31, 2021, subject to further extension.13
As of July 6, 2021,
13 The Debtor anticipates that Sierra’s contract will terminate on December 31, 2021, subject to further extensions to
permit Sierra Income Corporation to extend the termination date until February 28, 2022. As set forth in the Sierra
IMA and required by the SEC of all IMAs of this type, the agreement may be terminated at any time, without the
Case 21-10526-KBO Doc 244 Filed 07/06/21 Page 54 of 82
-49-
12957744.v3
the Debtor’s subsidiaries are also currently holding approximately $3,741,806 on account of the
Remaining Company Contracts, which they are entitled to upstream to the Debtor upon completion
of the Remaining Company Contracts. Absent continuation, of the Remaining Company
Contracts, the Debtor expects that the clients will seek the return of some or all of those funds.
The Debtor therefore expects that the net proceeds of the Remaining Company Contracts will
provide a significant recovery for Allowed Claims.
"
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