Former Videology liquidation plan OK’d by majority of voting creditors

By Caroline Salls

Pittsburgh, July 17 – VG Liquidation, Inc., formerly Videology, Inc., filed a plan of liquidation ballot report Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The plan was accepted by a majority of voting creditors.

Specifically, 69 holders, or 95.83% in number, of $55.77 million, or 99.38% in amount, of VG Liquidation general unsecured claims voted to accept the plan, while three holders, or 4.17% in number, of $345,122, or 0.62% in amount, of those claims voted to reject it.

A total of 28 holders, or 96.55% in number, of $35.45 million, or 99.67% in amount, of VG Liquidation Ltd. general unsecured claims voted to accept the plan, while one holder, or 3.45% in number, of $117,205, or 0.33% in amount, of those claims voted to reject it.

In addition, A total of 26 holders, or 78.79% in number, of $11.86 million, or 76.46% in amount, of VG MT Liquidation Ltd. general unsecured claims voted to accept the plan, while seven holders, or 21.21% in number, of $3.65 million, or 23.54% in amount, of those claims voted to reject it.

The plan confirmation hearing is scheduled for July 31.

New York-based Videology is a software provider for converged TV and video advertising. The company filed bankruptcy on May 10, 2018 under Chapter 11 case number 18-11120.

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