The US Bankruptcy Court approved the plan of liquidation and disclosure statement of Athenex, Inc. on September 12, 2023. The debtor has filed its plan in the Court on August 1, 2023. As per the plan, administrative claims of $1.25 million, professional fees, priority tax claims of $0.20 million, priority non-tax claims of $0.10 million, prepetition lenders secured claims of $45.39 million, other secured claims, shall be paid in full in cash.

Unsecured claims of $60 million shall be recovered 5% i.e., $3 million and shall receive its pro rata share of the liquidating trust interests. Intercompany claims of $29 million shall be cancelled or shall be reinstated. Intercompany interests will receive 0% recovery or shall be reorganized.

Interests shall be cancelled and shall not receive any distribution under the plan. The plan shall be funded through cash and sale of assets.