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Appvion – Court Confirms Combined Plans of Liquidation & Disclosure Statement

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August 14, 2018 – The U.S. Bankruptcy Court confirmed Appvion’s Second Amended Combined Plans of Liquidation & Disclosure Statement [Docket No. 970]. The Court approved the Disclosure Statement on an interim basis on June 20, 2018 [Docket No. 840]. As previously reported in the Disclosure Statement [Docket No. 836], “Upon the Effective Date, without the need for further order of the Bankruptcy Court or motion of, or notice from, the Debtors or the Liquidating Trustee, the Chapter 11 Cases of each of the Debtors shall be deemed closed as of the Effective Date….Pursuant to the Section X.M of the Plan, all Distributions in respect of Allowed Claims will be allocated first to the principal amount of the Allowed Claim (as determined for federal income tax purposes), with any excess allocated to accrued but unpaid interest.”

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