Unilife filed with the U.S. Bankruptcy Court an Exhibit containing second non-material modifications to the Company’s First Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation.
Documents filed with the Court explain, “Section B(2)(f) unsecured debt on pages 18 to 19 of the Plan, is hereby modified to read as follows: As of the petition date, the Debtors’ schedules reflect the following priority non-tax claims and priority tax claims: Unilife has none, UMSI has approximately $80,000 in wage and employment benefit claims which were paid pursuant to first day orders, and approximately $300,000 in sales taxes, which UMSI is disputing (an appeal is pending and a bond has been posted for payment in the event the appeal is not successful); and Unilife Cross Farm owes approximately $16,000 in unpaid real estate taxes. In the event UMSI is successful in its sales tax appeal, then the bonds proceeds (net of fees and costs in connection with successful prosecution of the appeal) shall be remitted either to UNL or to the Liquidation Trust for the benefit of the Debtor’s unsecured creditors.”
The Company also filed with the Court a Plan Supplement, which contains Exhibit A: form of liquidation trust agreement.
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