Trident Holding second amended reorganization plan effective Sept. 20

By Caroline Salls

Pittsburgh, Sept. 24 – Trident Holding Co., LLC’s second amended plan of reorganization took effect on Sept. 20, according to a notice filed with the U.S. Bankruptcy Court for the Southern District of New York.

The plan was confirmed on Sept. 18.

Under the plan, administrative claims, priority tax claims and other priority claims will be paid in full in cash.

Debtor-in-possession facility claims will be converted to the company’s exit facility.

Holders of priority first-lien claims will receive a share of a new first-lien facility and 100% of new Pioneer units.

Holders of first-lien claims and second-lien claims will receive a share of warrants.

Other secured claims will be reinstated or paid in full in cash, or holders will receive the collateral securing the claims.

Holders of operating company general unsecured claims will receive a share of a cash pool.

Holding company general unsecured claims will be extinguished with no distribution.

Intercompany claims will be reinstated or cancelled.

Holders of subordinated claims and debtor subsidiary interests will receive no distribution.

Trident is a Sparks, Md.-based diagnostic health care provider. The company filed bankruptcy on Feb. 10, 2019 under Chapter 11 case number 19-10384.

© 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.