Relativity Media – Files Joint Liquidating Plan with Unsecured Creditors

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October 22, 2018 – Relativity Media and its Official Committee of Unsecured Creditors filed a Joint Liquidating Plan [Docket No. 563]. The Plan notes, “The Plan’s objective is to transfer all Retained Assets, including the Retained Causes of Action, to the Liquidating Trust. The Liquidating Trustee will administer the Liquidating Trust and liquidate such Retained Assets, including the resolution of any Retained Causes of Action. The Plan divides Holders of Claims and Interests into unclassified Claims and Classes of Claims and Interests based on the Holders’ legal rights and interests, and the Liquidating Trustee will distribute the proceeds of the Retained Assets to Holders of Allowed Claims in satisfaction of the Debtors’ obligations under this Plan. Holders of Interests will not receive or retain anything on account of their Interests.”
 The following is a summary of classes, claims and voting rights:
  • Class 1 (“Secured Tax Claims”) is unimpaired, deemed to accept and not entitled to vote on the Plan.
  • Class 2 (“Other Secured Claims”) is unimpaired, deemed to accept and not entitled to vote on the Plan.
  • Class 3 (“Other Priority Claims’) is unimpaired, deemed to accept and not entitled to vote on the Plan.
  • Class 4 (“General Unsecured Claims”) is impaired and entitled to vote on the Plan.
  • Class 5 (“Intercompany Claims”) is impaired, deemed to reject and not entitled to vote on the Plan. 
  • Class 6 (“Interests”) is impaired, deemed to reject and not entitled to vote on the Plan.

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