The US Bankruptcy Court approved the first amended joint combined plan of reorganization and disclosure statement of Loyalty Ventures Inc., on April 27, 2023. The debtor has filed its first amended joint combined plan in the Court on April 26, 2023. As per the amended plan, Administrative Claims, Professional Fee Claims, and Other Priority Claims shall be paid full.

DIP Facility Claims of $70 million shall be paid full in cash. Loan Claims of $664 million shall be paid in less than 100% from the cash proceeds of any collateral securing the Loan Claims immediately upon the Debtors' or Liquidating Trustee, Other Secured Claims shall be paid full, General Unsecured Claims shall receive its share of the Liquidating Trust Interests on a Pro Rata basis based on the aggregate amount. Convenience Claims shall receive payment in full in Cash from the Convenience Claim Distribution Reserve.

Intercompany Claims shall be cancelled, settled and released without any distribution. 510 Claims shall be cancelled, settled and released without any distribution. Intercompany Interests, and Interest will be cancelled, released, and extinguished, and will be of no further force or effect.

The plan shall be funded through cash on hand, including cash from the proceeds of the DIP facility.