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Patriot National Bankruptcy Plan Filed

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Patriot National filed with the U.S. Bankruptcy Court a Fourth Amended Joint Chapter 11 Plan of Reorganization, which notes, “To the extent that the Allowed First Lien Lender Deficiency Claims are fully satisfied, any additional recoveries will be distributed to the Holders of Allowed Class 5 General Unsecured Claims. To the extent that Holders of Allowed Class 5 General Unsecured Claims are fully satisfied, any additional recoveries will be distributed to the Holders of Allowed First Lien Lender Deficiency Claims. For the avoidance of doubt, no holder of an Allowed Claim will receive payment in excess of the Allowed amount of their Claim. Upon the satisfaction in full of Allowed Class 5 General Unsecured Claims and Allowed First Lien Lender Deficiency Claims (the ‘Trigger Event’), the Plan Administrator shall make any further distributions on account of Claims and Equity Interests Class 6 and Class 8 in accordance with the Bankruptcy Code, including Section 1129(b) thereof. Notwithstanding the foregoing, and for the avoidance of doubt, until the occurrence of the Trigger Event, none of the Litigation Trust, the Litigation Trustee, or the Plan Administrator shall have any obligations or liabilities to the holders of Allowed Claims or Equity Interests in Class 6 or Class 8, holders of such Claims and Equity Interests shall have no rights against the Litigation Trust, the Litigation Trustee, or the Plan Administrator for any amount due on or right created by such Claims or Equity Interests, and holders of Claims and Equity Interests in Class 6 and Class 8 shall not be Litigation Trust Beneficiaries.”

The Debtors also filed the following additional Exhibits to the Supplement for the Company’s Plan: Exhibit G: disclosure concerning identities of individuals associated with the litigation trust oversight committee, the litigation trust, the plan administrator and reorganized Patriot National; Exhibit H-1: form of revised litigation trust agreement; Exhibit H-2: redline of revised form of litigation trust agreement; Exhibit I-1: form of revised investment funding agreement; Exhibit I-2: redline of revised form of investment funding agreement Exhibit J: revised assumption schedule; Exhibit K-1: revised form of reorganized Patriot National agreement and Exhibit K-2: redline of revised form of reorganized Patriot National.

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