Beverly Hills Bancorp Inc. filed a plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 25, 2014. As per the plan filed, administrative claims, for the amount of $0.38 million, shall be paid in full in cash. Tax claims of $4772 will be paid in full in cash.

Professional fee claims and statutory fees shall be paid in full in cash. Non-tax priority claims shall be paid in full in cash. There will be no allowed non tax priority claims under the plan.

Secured claims shall retain collateral, deferred cash payment or indubitable equivalent. The debtor estimates that there will be no secured claims under the plan. General unsecured claims, for the amount of $27.92 million, shall receive in the range of 20% to 25% pro rata share of distributable cash.

Indemnification claims, for the amount in the range of $0 to $100 million, shall receive estimated recovery in between 0% to 100% of the allowed amount. Convenience class claims, for the amount of $0.04 million, shall receive cash equal to 95% of the allowed amount. Subordinated debenture claims, for the amount of $27.92 million, shall not receive any distribution under the plan.

Equity interests shall receive no distribution and will be cancelled under the plan. The plan shall be funded through cash in hand of $5.03 million.