Proteus Digital’s Chapter 11 plan of liquidation effective Nov. 30

By Sarah Lizee

Olympia, Wash., Nov. 30 – Proteus Digital Health, Inc.’s Chapter 11 plan of liquidation became effective on Monday, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.

The plan was confirmed on Nov. 13, as previously reported.

Holders of priority non-tax claims will receive payment in full in cash under the plan.

Holders of other secured claims will receive the collateral securing their claims or cash.

Holders of general unsecured claims will receive their pro rata share of the liquidating trust interests.

Interest will be extinguished, and holders will receive no distribution.

Following the sale of substantially all of the debtors’ assets, Proteus Digital will focus on winding down its remaining operations. The debtor will be dissolved as soon as possible after the effective date.

Proteus is a digital medicine service provider. The company filed bankruptcy on June 15 under Chapter 11 case number 20-11580.

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