1st Step In PCD's Ch. 11 Liquidation Plan Approved
U.S. Bankruptcy Judge Alan S. Trust approved PCD's disclosure statement, which will allow creditors to vote on the liquidation plan that pays secured creditors in full but estimates just 2.8 percent recovery for unsecured creditors, who are owed $175 million.
Judge Trust set a confirmation hearing date for April 9.
Much of the...
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