Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers D > Headlines for DVI Inc. > News item |
DVI files liquidation plan; noteholders get nothing
By Jeff Pines
Washington, Sept. 10 - DVI Inc.'s noteholders will get nothing, according to the company's liquidation plan filed with the U.S. Bankruptcy Court for the District of Delaware Thursday.
Noteholders are assumed to have rejected the plan and will not get to vote on it.
Holders of general unsecured claims of which DVI estimates there are $297.4 million will get an estimated 2.9% to 32.3% in distributions from a liquidating trust.
Holders of subordinated unsecured claims, of which there are an estimated $32.9 million, may get an estimated 2.9% to 32.3% from a trust if there is any money left over after paying off all administrative claims, professional claims and allowed priority tax claims.
Ballots are due by Nov. 8.
The hearing on the disclosure statement is scheduled for Oct. 7 and the confirmation hearing is scheduled for Nov. 17.
DVI, a specialty medical finance company, filed for bankruptcy on Aug. 25, 2003. Its Chapter 11 case number is 03-12656.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.