Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Bonds / Retailing

Quiksilver Plan Filed

Quiksilver filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan of Reorganization. According to the Plan, holders of administrative claims and D.I.P. claims shall be allowed in full; holders of other priority claims shall be paid full in cash; holders of other secured claims shall have its allowed Class 2 claim reinstated and rendered unimpaired on the effective date or be paid full in cash; holders of Euro notes guaranty claims shall have its allowed Class 3 claim reinstated and rendered unimpaired in accordance with Section 1124(2) of the Bankruptcy Code; holders of secured notes claims shall receive on account of such holder's secured notes claims its pro rata share based on the aggregate amount of allowed Class 4 claims of the new Quiksilver common stock subject to dilution in accordance with the New Quiksilver common stock allocation; holders of unsecured notes claims shall receive shall receive pro rata shares based on the aggregate amount of allowed Class 5-a claims, of the notes cash consideration; holders of general unsecured claims shall receive its pro rata share, based on the aggregate amount of allowed Class 5-B claims of the GUC cash consideration, holders of inter-company claims and intercompany interests claims shall be either (i) reinstated or (ii) released, waived, and discharged and holders of subordinated claims shall be released, waived and discharged.

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