Former Color Spot disclosure approved; plan hearing set for Nov. 14

By Caroline Salls

Pittsburgh, Oct. 12 – CSH Winddown, Inc., formerly Color Spot Holdings, Inc., received interim court approval of its combined plan of liquidation and disclosure statement, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The plan confirmation hearing is scheduled for Nov. 14.

Under the proposed plan, priority non-tax claims will be paid in full in cash.

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

Wells Fargo will receive distributions of any excess cash after satisfaction in full of claims to be paid in accordance with the plan, the right to the return of any proceeds of letters of credit and specified releases.

Holders of general unsecured claims and intercompany claims will receive no distribution.

All interests will be deemed cancelled, extinguished and discharged, and holders will receive no distribution.

Color Spot is a Temecula, Calif.-based flower grower and distributor. The company filed bankruptcy on May 29 under Chapter 11 case number 18-11272.

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