SEC Filings

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

 

7.       Class 7 – Disputed Employee Litigation Claims

 

i.       Classification: Class 7 consists of Disputed Employee Litigation Claims.

 

ii.       Treatment: Except to the extent that a holder of an Allowed Disputed Employee Litigation Claim agrees to a less favorable treatment, in exchange for full and final satisfaction, settlement, and release of each Allowed Disputed Employee Litigation Claim, each Allowed Disputed Employee Litigation Claim shall receive:

 

a.       If the Class 7 Stipulation is approved by the Court pursuant to a Final Order, the holders of Disputed Employee Litigation Claims shall receive their pro rata share of an Allowed Priority Non-Tax Claim in the aggregate amount of $300,000.00 (the “Class 7 Cash Recovery”). The Class 7 Cash Recovery shall be satisfied from the Trust Cash Amount and from no other assets.

 

b.       If the Class 7 Stipulation is not approved by the Court, the Court will determine the amount and priority of each Disputed Employee Litigation Claim.

 

iii.       Voting: Class 7 is Impaired by the Plan. Holders of Disputed Employee Litigation Claims are entitled to vote to accept or reject the Plan.

 

8.       Class 8—Prepetition Treximet Highbridge Deficiency Claim.

 

i.       Classification: Class 8 consists of all Prepetition Treximet Highbridge Deficiency Claims.

 

ii.       Treatment: Pursuant to the UCC Settlement, and pursuant to and conditioned upon the approval of the Global Settlement by Final Order, each Allowed Prepetition Treximet Highbridge Deficiency Claim shall receive its pro rata share of Class B Liquidating Trust Interests.

 

iii.       Voting: Class 8 is Impaired by the Plan. Holders of Prepetition Treximet Highbridge Deficiency Claims are entitled to vote to accept or reject the Plan.

 

9.       Class 9—Intercompany Claims.

 

i.       Classification: Class 9 consists of all Intercompany Claims.

 

ii.       Treatment: On the Effective Date, all Class 9 Intercompany Claims shall be cancelled without any distribution on account of such Claims.

 

iii.       Voting: Class 9 is Impaired by the Plan, and each holder of a Class 9 Intercompany Claim is conclusively presumed to have rejected the Plan pursuant to Bankruptcy Code section 1126(g). Therefore, holders of Class 9 Intercompany Claims are not entitled to vote to accept or reject the Plan.

 

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