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

TerraVia Holdings Plan Effective, Summarized

TerraVia Holdings' Combined Disclosure Statement & Chapter 11 Plan of Liquidation [Revised] became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on January 8, 2018. BankruptcyData's Plan Summary notes, "The Combined Disclosure Statement and Plan contemplates the liquidation and dissolution of the Debtors and the resolution of all outstanding Claims and Interests. The Combined Disclosure Statement and Plan is the product of negotiations between the Debtors and certain of their stakeholders. The Debtors believe that the Combined Disclosure Statement and Plan is reflective of these good faith negotiations and will treat holders of Claims or Interests in an economic and fair manner….The Liquidation Analysis for the Debtors estimates the Total Available Proceeds for Distribution to be $29.2 million. The recovery rate to the General Unsecured Claims is estimated to be between 11.95%." This food, nutrition and specialty ingredients provider filed for Chapter 11 protection on August 2, 2017, listing $136 million in pre-petition assets. Visit BankruptcyData for a detailed Plan Summary.

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