The U.S. Bankruptcy Court approved Perseon’s Revised Disclosure Statement and scheduled a December 20, 2016 hearing to consider the Chapter 11 Plan.
According to documents filed with the Court, “Each holder of an allowed priority claim and general unsecured claims shall be paid in full in cash plus interest incurred from the petition date through the effective date; holders of common stock interest and holders of private warrant interests shall receive its pro rata share of the disbursing agent assets; holders of public warrant interests shall be cancelled without any distribution on account of such interests.”
As previously reported, “The Debtor has added the following language to Article XI.B of the Revised Disclosure Statement: If the Plan is confirmed, then any and all derivative securities claims against the Released Parties will be released and terminated and no Claim or Interest Holder will be able to pursue any derivative securities claims, including but not limited to any and all derivative securities claims previously asserted by Schwartz in the Delaware Case.”
Read more bankruptcy news.
The post Perseon Disclosure Statement Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.