Former Coda liquidation plan accepted by majority of voting creditors

By Caroline Salls

Pittsburgh, Jan. 17 - Adoc Holdings, Inc.'s third amended plan of liquidation was accepted by a majority of voting creditors, including unanimous approval by creditors in two of three classes, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The plan was accepted by all four holders of a total of $23.77 million in pre-bankruptcy secured parties claims and the one holder of $430,000 in WARN class priority claims.

In addition, 83 holders, or 93.26% in number, of $14.38 million, or 98.7% in amount, of general unsecured claims voted to accept the plan, while six holders, or 6.74% in number, of $189,944, or 1.3% in amount, of these claims voted to reject it.

The plan confirmation hearing is scheduled for Jan. 21.

Adoc was formerly Coda Holdings, Inc., a Los Angeles-based manufacturer of electric cars and energy products based on lithium-ion batteries that filed for bankruptcy on May 1, 2013. Its Chapter 11 case number is 13-11153.

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