SEC Filings

8-K
PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 06/26/2019
Entire Document
 

 

Article III
CLASSIFICATION AND TREATMENT OF CLAIMS AND INTERESTS

 

A.       Classification of Claims and Interests.

 

Pursuant to Bankruptcy Code section 1122, set forth below is a designation of Classes of Claims against and Interests in the Debtors. All Claims and Interests, except for Administrative Claims, Professional Fee Claims, Priority Tax Claims and DIP Claims, are classified in the Classes set forth in this Article III. A Claim or Interest is classified in a particular Class only to the extent that the Claim or Interest qualifies within the description of that Class and is classified in other Classes to the extent that any portion of the Claim or Interest qualifies within the description of such other Classes. A Claim or Interest also is classified in a particular Class for the purpose of receiving distributions pursuant to the Plan only to the extent that such Claim or Interest is an Allowed Claim or Interest in that Class and has not been paid, released or otherwise satisfied before the Effective Date.

 

B.       Summary of Classification.

 

The following chart summarizes the classification of Claims and Interests pursuant to the Plan:

 

Class Claim/Interest Status Voting Rights
1 Priority Non-Tax Claims Unimpaired Deemed to Accept
2 Other Secured Claims Unimpaired Deemed to Accept
3 RESERVED RESERVED RESERVED
4 RESERVED RESERVED RESERVED
5 Prepetition Exchangeable Note Claims Impaired Entitled to Vote
6 General Unsecured Claims Impaired Entitled to Vote
7 Disputed Employee Litigation Claims Impaired Entitled to Vote
8 Prepetition Treximet Highbridge Deficiency Claim Impaired Entitled to Vote
9 Intercompany Claims Impaired Deemed to Reject
10 Subordinated Claims Impaired Deemed to Reject
11 Interests Impaired Deemed to Reject

 

C.       Treatment of Claims and Interests.

 

To the extent a Class contains Allowed Claims or Allowed Interests with respect to a particular Debtor, the treatment provided for the holders of such Allowed Claims or Allowed Interests within each class is specified below:

 

1.       Class 1 – Priority Non-Tax Claims

 

i.       Classification: Class 1 consists of all Priority Non-Tax Claims.

 

ii.       Treatment: Except to the extent that a holder of an Allowed Priority Non-Tax Claim agrees to a less favorable treatment, each holder of such Allowed Priority Non-Tax Claim shall be paid in full in Cash on the Distribution Date.

 

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