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Hampshire Group Liquidating Plan Summarized

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BankruptcyData’s detailed analysis and summary of Hampshire Group’s First Amended Joint Chapter 11 Plan of Liquidation, dated August 16, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on September 28, 2017; however, an effective date has not yet been issued.

BankruptcyData notes, “The Plan contemplates to provide for the establishment on the Effective Date of the Liquidation Trust for the primary purpose of administering and liquidating the Trust Assets. On the Effective Date, all Assets of the Debtors’ Estates, including, but not limited to, Causes of Action, any recoveries related to the issuance of the Bond and the related letter of credit draw, certain accounts receivable, and cash, will vest in the Liquidation Trust.”

BankruptcyData’s Plan Summary continues, “All Interests in the Debtors will be cancelled, and the Holders of Class 3 Interests will not be entitled to, and will not receive or retain, any property on account of such Interests under the Plan.” BankruptcyData premium level subscribers receive access to the full summary, which provides further details on corporate background, events leading to Hampshire Group’s November 23, 2016 Chapter 11 filing, recovery specifications and a comprehensive break-down of all claimant classes.

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The post Hampshire Group Liquidating Plan Summarized appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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