Former Urban Brands' liquidation plan OK'd by most voting creditors

By Caroline Salls

Pittsburgh, Oct. 17 - UBI Liquidating Corp.'s plan of liquidation was accepted by a majority of voting creditors, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, 72 holders, or 86.75% in number, of $8.39 million, or 95.88% in amount, of general unsecured claims voted to accept the plan. Eleven holders, or 13.25% in number, of $360,321, or 4.12% in amount, of these claims voted to reject it.

The plan confirmation hearing is scheduled for Oct. 19.

UBI was formerly Urban Brands, a Secaucus, N.J.-based plus-sized apparel retailer. The company filed for bankruptcy on Sept. 21, 2010. Its Chapter 11 case number is 10-13005.

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