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VER Technologies HoldCo – Plan Becomes Effective, Debtor Becomes Wholly Owned Subsidiary of PRG

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August 21, 18 – VER Technologies HoldCo’s Fourth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 661] became effective and the Company emerged from Chapter 11 protection [Docket 749]. The Court confirmed the Third Amended Plan on July 26, 2016 [Docket No. 647]. As disclosed in its Plan [Docket No. 611], “Immediately following the Merger and the Contribution, PRG II shall contribute 100% of the equity interests in Reorganized HoldCo to its subsidiary PRG II Inc., and PRG II Inc. shall contribute 100% of the equity interests in Reorganized HoldCo to its subsidiary PRG Inc., resulting in Reorganized HoldCo becoming a wholly owned subsidiary of PRG Inc.” This Privately-held rental producer of equipment to the entertainment industry filed for Chapter 11 protection on April 5, 2018, listing more than $500 million in prepetition assets.

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The post VER Technologies HoldCo – Plan Becomes Effective, Debtor Becomes Wholly Owned Subsidiary of PRG appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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