Aeropostale filed with the U.S. Bankruptcy Court a Revised Third Amended Joint Chapter 11 Plan of Liquidation and related Disclosure Statement.
According to the Disclosure Statement, “Class 3 is Impaired by the Plan. Each holder of a Term Loan Secured Claim is entitled to vote to accept or reject the Plan. The Plan and the treatment of the Term Loan Secured Claim provided for therein, incorporates the terms of a settlement between the Term Loan Lenders and the Debtors. Confirmation of the Plan shall constitute approval of such settlement in accordance with Bankruptcy Rule 9019. The Term Loan Secured Claim shall be an Allowed Claim in the amount of $150 million, plus accrued and unpaid interest in the amount of $10,359,927, plus all fees and costs recoverable under the Term Loan Agreement, minus any amounts the Debtors pay to the Term Loan Lenders before Confirmation of the Plan. Pursuant to the Cash Collateral Orders, the Term Loan Lenders have received an interim distribution in the amount of $130,000,000.”
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