Hornbeck Offshore Services, Inc., along with its affiliates, filed a joint pre-packaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on May 19, 2020. As per the plan filed, Administrative Claims, DIP claims of $75 million, professional fee claims, priority tax claims, United States Trustee statutory fees, other priority claims of $5 million shall be paid in full in cash. Other secured claims shall receive payment in full in cash or surrender of collateral securing such claims or reinstatement of the claim. ABL claims of $53.2 million shall be paid in full in cash other than for the portion ABL redemption fee. ABL redemption fee shall be settled through pro rata share of the DIP redemption fee. First lien claims of $364.1 million shall be recovered 88% i.e. $320.41 million. First lien claims shall receive distribution as follows, (i) if first lien claims are eligible holders, its pro rata share of 24.6% of new equity and the first lien subscription rights; (ii) if such claim is non-eligible holder, cash payment equivalent to the Holder’s recovery under clause (i); (iii) its pro rata share of exit second lien facility and with respect to first lien redemption fee, its pro rata share of second lien exit fee. Second lien claims of $124.6 million shall be recovered 6.1% i.e. $7.60 million. Second lien claims shall receive distribution as follows, if second lien claims is an eligible holder, its pro rata share of 5.1% of the new equity, 15% of the new creditor warrants and the second lien subscription rights; and if such claim is a non-eligible holder, a cash payment equal to 6.1% of such claim. Unsecured notes claims of $698.6 million shall be recovered 0.5% i.e. $3.49 million. Unsecured notes claims shall receive distribution as follows, if such 2020 notes claims are eligible holder, its pro rata share of 0.3% of the new equity, 85.0% of the new creditor warrants and the noteholder subscription rights; and if such holder is a non-eligible holder, a cash payment equal to 0.5% of such allowed 2020 notes claim. Each holder of 2021 notes claim is a eligible holder then each holder shall receive its pro rata share of 0.3% of the new equity, 85% of the new creditor warrants and the noteholder subscription rights; and if such holder is a non-eligible holder, a cash payment equal to 0.5% of such allowed 2021 notes claim. General unsecured claims of $12.3 million shall be reinstated. Intercompany claims and intercompany interest shall be reinstated or canceled. Equity interests shall be cancelled. Section 510(b) claims shall be canceled. The plan shall be funded through cash, new equity, new warrants, equity rights offering, the proceeds of the DIP facility, exit first lien facility and the exit second lien facility.