Silicon Hills Campus files reorganization plan, disclosure statement

By Caroline Salls

Pittsburgh, April 7 – Silicon Hills Campus, LLC filed a plan of reorganization and related disclosure statement Monday with the U.S. Bankruptcy Court for the Western District of Texas.

Under the plan, the company’s lender’s claim will be paid in full either from the proceeds from a sale or refinancing or paid over time.

Holders of unsecured claims will be paid in full 30 days after payment of the lender claim.

Holders of existing equity interests will retain those interests but will receive no distribution under the plan.

Administrative claims will be paid in full in cash.

Priority tax claims will be paid in full following the sale of the company’s property.

Silicon Hills said all cash necessary for the reorganized company to make payments in accordance with the plan will be obtained from rental receipts, refinancing proceeds, sale proceeds or court-approved financing.

Silicon Hills is an Austin, Tex.-based real estate manager and developer. The company filed bankruptcy on Jan. 7 under Chapter 11 case number 20-10042.

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