Henry Ford Village files Chapter 11 plan of liquidation

By Sarah Lizee

Olympia, Wash., Oct. 18 – Henry Ford Village, Inc. filed a combined Chapter 11 plan of liquidation and related disclosure statement on Monday with the U.S. Bankruptcy Court for the Eastern District of Michigan.

The company has liquidated substantially all of its assets, and the funds received after payment of some of the obligations incurred before confirmation of the plan, along with any other assets of the debtor, will be transferred into a liquidation trust and administered by a liquidation trustee.

Under the plan, holders of LARA escrow claims will be left unimpaired.

Holders of general unsecured claims will receive a beneficial interest in the liquidating trust entitling them to receive pro rata distributions from the liquidating trust assets.

Holders of administrative claims will receive cash in an amount equal to their claims.

Holders of professional fee claims will be paid in full.

Holders of priority tax claims will receive cash for the unpaid portion of their claims.

Henry Ford Village is a senior living community based in Dearborn, Mich. The company filed Chapter 11 bankruptcy on Oct. 28, 2020 under case number 20-51066.

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