Rupari Holding’s Chapter 11 plan of liquidation takes effect Dec. 29

By Caroline Salls

Pittsburgh, Dec. 29 – Rupari Holding Corp.’s plan of liquidation took effect on Friday, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.

The plan, which calls for the creation of a liquidating trust from which distributions will be made for the benefit of holders of various allowed claims, was confirmed on Dec. 11.

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

Priority tax claims will be paid in full in cash in installments made over a five-year period.

Holders of secured claims will be paid in full in cash or will receive the collateral securing the claim.

Because Rupari Holding has no assets, the company said holders of general unsecured claims against the holding company will receive no distribution under the plan; provided, however, that if the liquidating trust holds any assets following the payment of all senior claims and trust operating expenses, holders of general unsecured claims will receive a distribution from any remaining trust assets.

Holders of general unsecured claims against the Rupari Food Services, Inc. debtor will receive a share of the beneficial interest in the liquidating trust, entitling it to receive net cash derived from the trust assets until the claims are paid in full or the trust assets are exhausted.

Holders of equity interests will receive no distribution.

South Holland, Ill.-based Rupari is a culinary supplier of uncooked and ready-to-eat sauced and unsauced ribs, barbeque pork and barbeque chicken. The company filed for bankruptcy on April 10, 2017 under Chapter 11 case number 17-10793.

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