November 9, 2018 – Elements Behavioral Health filed with the Court a Combined Plan and Disclosure Statement [Docket No. 569].
The following is a summary of classes, claims, voting rights and estimated recoveries under the Plan:
- Class 1 (“DIP Facility Claims”) is unimpaired, deemed to accept and not allowed to vote on the Plan. Estimated allowed claims are $29.9 million and estimated recovery is 100%.
- Class 2 (“Secured Tax Claims”) is unimpaired, deemed to accept and not allowed to vote on the Plan. Estimated allowed claims are $0 and estimated recovery is 100%.
- Class 3 (“First Lien Claims”) is impaired and allowed to vote on the Plan. Estimated allowed claims are $134,679,040.52 and estimated recovery is 61%.
- Class 4 (“Second Lien Claims”) is impaired and allowed to vote on the Plan. Estimated allowed claims are $44.2 million and estimated recovery is 0%.
- Class 5 (“Other Secured Claims”) is unimpaired, deemed to accept and not allowed to vote on the Plan. Estimated allowed claims are $0 and estimated recovery is 100%.
- Class 6 (“Priority Claims”) is unimpaired, deemed to accept and not allowed to vote on the Plan. Estimated allowed claims are $52,312.376 and estimated recovery is 100%.
- Class 7 (“General Unsecured Claims”) is impaired and allowed to vote on the Plan. Estimated allowed claims are $195,128,358.878 and estimated recovery is 0%.
- Class 8 (“Intercompany Claims”) is impaired, deemed to reject and not allowed to vote on the Plan. Estimated allowed claims are N/A and estimated recovery is 0%.
- Class 9 (“Equity Interests”) is impaired, deemed to reject and not allowed to vote on the Plan. Estimated allowed claims are N/A and estimated recovery is 0%.
The Combined Plan and Disclosure Statement also attached the following Exhibits:
- Exhibit A -Liquidation Analysis
- Exhibit B – Acquired Avoidance Actions Schedule
- Exhibit C – Estate Claims Schedule
- Exhibit D – Combined Budget
The Court scheduled a combined hearing on January 24, 2019, with objections due by January 4, 2019. The voting deadline for the Combined Plan and Disclosure Statement is January 14, 2019.
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