The US Bankruptcy Court approved the third modified combined plan of liquidation of Humanigen, Inc. on June 18, 2024. The debtor has filed its third modified combined plan in the Court on June 13, 2024. As per the plan, administrative expense claims, priority tax claims, statutory fees, professional fee claims, DIP facility claims, and non-tax priority claims shall be paid in full in cash.
Secured claims shall be paid in cash. General unsecured claims of $44.10 million shall be recovered 19.25% and shall receive its pro rata share of the liquidating trust proceeds. Subordinated claims shall receive its pro rata share of the liquidating trust proceeds.
Existing equity interests shall be cancelled and receive its pro rata share of the liquidating trust proceeds. The plan shall be funded from available cash and sale of assets.
