Heilig meyers liquidating trust


02-Mar-2018 14:56

Any term used in this Plan that is not defined herein, but is defined in the Bankruptcy Code or the Bankruptcy Rules, shall have the meaning ascribed to that term in the Bankruptcy Code or the Bankruptcy Rules.

Whenever it appears appropriate from the context, each term stated in the singular or the plural includes the singular and the plural, and each pronoun stated in the masculine, feminine or neuter includes the masculine, feminine and neuter.means that certain indenture dated as of August 1, 1996, as amended, supplemented or otherwise modified prior to the Petition Date, by and between Mac Saver and First Union National Bank, f/k/a First Union National Bank of Virginia, as indenture trustee, pursuant to which Mac Saver issued and Heilig-Meyers guaranteed the 7.40% Notes.means that certain indenture dated as of August 1, 1996, as amended, supplemented or otherwise modified prior to the Petition Date, by and between Mac Saver and First Union National Bank, f/k/a First Union National Bank of Virginia, as indenture trustee, pursuant to which Mac Saver issued and Heilig-Meyers guaranteed the 7.60% Notes.means that certain indenture dated as of August 1, 1996, as amended, supplemented or otherwise modified prior to the Petition Date, by and between Mac Saver and First Union National Bank, f/k/a First Union National Bank of Virginia, as indenture trustee, pursuant to which Mac Saver issued and Heilig-Meyers guaranteed the 7.88% Notes.means any Claim constituting a cost or expense of administration of the Chapter 11 Cases allowed under sections 503(b) and 507(a)(1) of the Bankruptcy Code including, but not limited to, any actual and necessary costs and expenses of preserving the Debtors’ estates, any actual and necessary costs and expenses of operating the Debtors’ businesses, any indebtedness or obligations incurred or assumed by the Debtors, as Debtors in Possession, during the Chapter 11 Cases (other than the DIP Lender Claims), including, without limitation, for the acquisition or lease of property or an interest in property or the rendition of services, any allowances of compensation and reimbursement of expenses to the extent allowed by Final Order under section 330 or 503 of the Bankruptcy Code, and any fees or charges assessed against the Debtors’ estate under section 1930 of chapter 123 of title 28 of the United States Code.means the reserve to be established and maintained by the Liquidation Trustee pursuant to the terms hereof containing all distributions that may be made on grounds of any Disputed Administrative Claims pending entry of a Final Order allowing or disallowing such Disputed Administrative Claims.means the number of shares of New Room Store Common Stock, if any, to be distributed to Heilig-Meyers in respect of the Affiliated Debtor Unsecured Claim in connection with the Room Store Chapter 11 Case.means, with respect to a Claim or any portion thereof, a Claim (a) that has been allowed by a Final Order of the Bankruptcy Court (or such other court as the Liquidation Trustee and the holder of such Claim agrees may adjudicate such Claim and objections thereto), (b) as to which, on or by the Effective Date, (i) no proof of claim has been filed with the Bankruptcy Court and (ii) the liquidated and noncontingent amount of which is Scheduled, other than a Claim that is Scheduled at zero, in an unknown amount, or as disputed, (c) for which a proof of claim in a liquidated amount has been timely filed with the Bankruptcy Court pursuant to the Bankruptcy Code, any Final Order of the Bankruptcy Court or other applicable bankruptcy law, and as to which either (i) no objection to its allowance has been filed within the periods of limitation fixed by this Plan, the Bankruptcy Code or by any order of the Bankruptcy Court or (ii) any objection to its allowance has been settled or withdrawn, or has been denied by a Final Order, or (d) that is expressly allowed in a liquidated amount in this Plan.means all Cash held by the Liquidation Trustee after paying (or reserving or otherwise providing for the payment of ): (a) all Administrative Claims, Priority Tax Claims, Other Priority Claims and Other Secured Claims; and (b) all liabilities, costs and expenses of the Liquidation Trust, including without limitation, the liabilities, costs and expenses incurred (or that are reasonably likely to be incurred) by the Liquidation Trustee and the members of the Liquidation Trust Committee in the performance of their respective duties under the Trust Agreement, in such amounts as the Liquidation Trustee shall determine, in his sole discretion, to be appropriate.means the Federal Rules of Bankruptcy Procedure and the Official Bankruptcy Forms, as amended, the Federal Rules of Civil Procedure, as amended, as applicable to the Chapter 11 Cases or proceedings therein, and the Local Rules of the Bankruptcy Court, as applicable to the Chapter 11 Cases or proceedings therein, as the case may be.means the deadline for filing all proofs of claim or interest established by the Bankruptcy Court as July 16, 2001, including Claims of governmental units in accordance with section 502(b)(9) of the Bankruptcy Code, except Administrative Claims.means the Trust Interests as provided by the Class 5(a) Trust Interest Allocation (as may be reallocated from time to time pursuant to this Plan) to be deemed distributed ratably to holders of Allowed Funded Debt Unsecured Claims pursuant to the terms and conditions of Article 4.7 of this Plan.means the product derived from the following formula: (B / 128,500,000) * 4,000,000, where “B” is equal to (x) the sum of the Allowed Class 2(a) Claim, Allowed Class 2(b) Claim, and Allowed Class 2(c) Claim minus (y) 32,500,000.means zero if Allowed Class 5(b) Claims are less than 0 million.

We have no information about retirement or other employee benefit plans (e.g., profit sharing or pension plans). About Oak Point Partners Oak Point Partners is a private investment firm specializing in the purchase of remnant assets.

Oak Point Partners has completed purchases of the remaining known and unknown assets in hundreds of Chapter 11 and Chapter 7 bankruptcy cases.

We are unable to assist with claim, warranty or product inquiries. Department of Labor Employee Benefits Security Administration (866-444-3272) or Pension Benefit Guaranty Corporation (800-400-7242).

(collectively, the "Companies"), announced that they and the Official Committee of Unsecured Creditors have filed an Amended and Restated Joint Liquidating Plan of Reorganization (the "Amended Plan") and Disclosure Statement with the U. Bankruptcy Court for the Eastern District of Virginia.

The Amended Plan amends and restates the Proposed Joint Plan of Reorganization (the "Initial Plan") filed by the Companies and HMY Room Store, Inc. The Bankruptcy Court will conduct a hearing for the purpose of making a determination as to the adequacy of the Disclosure Statement.

Subject to certain restrictions and requirements set forth in section 1127 of the Bankruptcy Code, Bankruptcy Rule 3019 and this Plan, the Debtors and the Creditors’ Committee reserve the right to alter, amend, modify, revoke or withdraw this Plan prior to its substantial consummation.

heilig meyers liquidating trust-64

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ALL CLAIMHOLDERS ENTITLED TO VOTE ON THIS PLAN ARE ENCOURAGED TO CAREFULLY READ THE DISCLOSURE STATEMENT AND THIS PLAN BEFORE VOTING TO ACCEPT OR REJECT THIS PLAN.Under the terms of the proposed Amended Plan, pre-petition creditors will receive beneficial interests in a Liquidation Trust in settlement of their claims.All of the Companies' assets will be transferred to a Liquidation Trust to be converted to cash for distribution or distributed directly to the beneficiaries of the Liquidation Trust.If no Record Date is established in the Confirmation Order or any other order of the Bankruptcy Court, then the Record Date shall be the Confirmation Date.means (a) leaving unaltered the legal, equitable and contractual rights to which a Claim entitles the Claimholder so as to leave such Claim Unimpaired in accordance with section 1124 of the Bankruptcy Code, or (b)notwithstanding any contractual provision or applicable law that entitles the Claimholder to demand or receive accelerated payment of such Claim after the occurrence of a default (i) curing any such default that occurred before or after the Petition Date, other than a default of a kind specified in section 365(a)(2) of the Bankruptcy Code; (ii) reinstating the maturity of such Claim as such maturity existed before such default; (iii) compensating the Claimholder for any damages incurred as a result of any reasonable reliance by such Claimholder on such contractual provision or such applicable law; and (iv) not otherwise altering the legal, equitable or contractual rights to which such Claim entitles the Claimholder; , that any contractual right that does not pertain to the payment when due of principal and interest on the obligation on which such Claim is based, including, but not limited to, financial covenant ratios, negative pledge covenants, covenants or restrictions on merger or consolidation, “going dark” provisions, and affirmative covenants regarding corporate existence prohibiting certain transactions or actions contemplated by this Plan, or conditioning such transactions or actions on certain factors, shall not be required to be cured or reinstated in order to accomplish Reinstatement.means, collectively, (i) all officers, directors, employees, consultants, agents, financial advisors, attorneys and other representatives of the Debtors which served in such capacities on and subsequent to the Petition Date; (ii) the Creditors’ Committee, including its agents, financial advisors, and attorneys in their capacities as such, and all current and former members of the Creditors’ Committee in their capacities as such; and (iii) with respect to each of the above-named Persons, such Person’s affiliates, principals, employees, agents, officers, directors, financial advisors, attorneys and other professionals, in their capacities as such.means any of, or collectively, the Administrative Claims Reserve, the Other Priority Claims Reserve, the Other Secured Claims Reserve, the Funded Debt Unsecured Claims Reserve, and the Heilig Unsecured Claims Reserve.means the schedules of assets and liabilities and the statements of financial affairs filed in the Chapter 11 Cases by the Debtors, as such schedules or statements have been or may be amended or supplemented from time to time in accordance with Bankruptcy Rule 1009 or orders of the Bankruptcy Court.means a Claim (to include Postpetition Interest to the extent permitted by applicable law) held by a Claimholder and secured by a security interest in or lien on property of the Estates to the extent of the value, as of the Effective Date or such other date as is established by the Bankruptcy Court, of such Claimholder’s interest in the Estates’ interest in property of the Estates as determined by a Final Order of the Bankruptcy Court pursuant to section 506 of the Bankruptcy Code or as otherwise agreed upon in writing by the Debtors and the Claimholder, or, in the event that such Claim is subject to a permissible setoff under section 553 of the Bankruptcy Code or Final Order of a court of competent jurisdiction, to the extent of such permissible setoff.means a Claim subject to subordination under section 510(b) of the Bankruptcy Code that arises from the rescission of a purchase or sale of a debt or equity Security of any Debtor (including, but not limited to, the Unsecured Notes, Prudential Notes and Old Common Stock), or for damages arising from the purchase or sale of such debt or equity Security, or for reimbursement, indemnification, or contribution allowed under section 502 of the Bankruptcy Code on account of such Claim.means (a) that certain million Tax Ownership Operating Lease in respect of certain properties located in Mount Sterling, Kentucky and Athens, Texas pursuant to the terms of, among other documents: (i) that certain Lease Agreement dated January 31, 1996, among State Street Bank and Trust Company, as owner-trustee and lessor, Arthur J.