Acclaim Entertainment trustee files final claims distribution report

By Kali Hays

New York, May 12 - Acclaim Entertainment Inc.'s Chapter 7 trustee, Allan B. Mendelshon, submitted his final report on the distribution of funds Monday to the U.S. Bankruptcy Court for the Eastern District of New York.

Claimants received a total distribution of $23.09 million, and no claimants were discharged without payment, according to the report.

The net receipts from the liquidation of the estate totaled $32.67 million, and the cost of administration was approximately $9.65 million.

The company paid nearly all secured claims and priority unsecured claims in full, while general unsecured claims received payment of $1.57 million out of $70.54 million in allowed claims.

Long Island, N.Y.-based Acclaim filed for bankruptcy on Sept. 1, 2004. Its Chapter 11 case number is 04-85595.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.