Put our Chapter 11 expertise & analysis to work for you with BankruptcyData's Plan Summary of Optima Specialty Steel's U.S. Bankruptcy Court-confirmed Third Amended Joint Chapter 11 Plan of Reorganization, as Modified.
We filter down all of the information to produce a Plan Summary report that is 8 to 38 pages in length (depending on the complexity of the bankruptcy case). This concise synopsis offers a reliable overview of the entire bankruptcy reorganization process without bogging you down with hundreds of pages of "legalese."
Optima Specialty Steel's Plan Summary explains, "The Third Amended Joint Chapter 11 Plan of Reorganization, as Modified provides for a comprehensive reorganization of the Debtors that will recapitalize the Debtors’ balance sheet and ensure that the Debtors emerge from bankruptcy with a robust capital structure. The Plan will leave creditors (other than Holders of a Class 3-A Claim) unimpaired, paying fixed, undisputed and liquidated claims in full in cash and reinstating contingent, disputed or unliquidated claims. The Debtors believe that the Plan will enable them to emerge quickly from chapter 11 as a financially stronger enterprise that can thrive in the marketplace and maintain its ongoing business relationships with all of their constituencies, including vendors, suppliers, employees, and pensioners. Specifically, to achieve the balance sheet restructuring provided for in the Plan, the Debtors will convert the Unsecured Notes Claims, over $87.55 million of unsecured debt, held by certain investment funds and accounts managed by DDJ Capital Management, LLC to 100% of the New Common Stock in the Reorganized Optima."