Plan was confirmed and distribution was voted. My experience is that the shares stay in your account either as the same ticker or converted to a set of numbers/letters in your brokerage account (e.g 123esc456) to represent your shares to be held in escrow/trust.
For distribution, first they need to figure out if they are pursuing any causes of actions. If none, then they will wrap things up, distribute the funds and then shut off the lights. If they pursue a cause of action, they will need to figure out how much money they need to hold in reserve. If there is a fair amount leftover beyond the reserves that they don't need then they may do a preliminary distribution.
Personally, I invested because of the causes of actions and as a result hopefully getting additional recoveries for shareholders. If I could find more plays like this one I'd invest in all of them, but the issue is that I don't know if their action has any merit or if they're even going to pursue any. The EC felt they had merit but the debtor did not. We will find out soon enough if they sue anyone. If they do, it'll take as long as the lawsuits take to get resolved which could be a while.
With these types of plays you're better off forgetting about this stock and hopefully one day you will wake up to a nice distribution in your brokerage account.
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