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

Nuo Therapeutics Plan Effective

Nuo Therapeutics' Modified First Amended Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on April 25, 2016. According to documents filed with the Court, "The Debtor will be reorganized pursuant to the Plan and continue in operation following the Effective Date. All Allowed Administrative Expense Claims and Allowed Priority Tax Claims will be paid or otherwise satisfied in full as required by the Bankruptcy Code, unless otherwise agreed to by the Debtor and the holders of such Claims….[H]olders of Common Stock Equity Interests in the Debtor may receive a Distribution under the Plan in the form of equity interests in the Reorganized Debtor. In order for any existing holder of Common Stock Equity Interests to receive or retain any equity interest in the Reorganized Debtor, such holder must: affirmatively agree to certain releases in favor of third parties." This biomedical therapies' provider filed for Chapter 11 protection on January 26, 2016, listing $56 million in pre-petition assets.

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