PLx Pharma Inc. filed a combined disclosure statement and plan of liquidation in the US Bankruptcy Court on July 7, 2023. As per the plan filed, administrative claims, professional fee claims, priority tax claims, secured claims, priority non-tax claims, shall be paid in full in cash. General unsecured claims of $11.91 million shall be recovered 49% i.e., $5.83 million and shall receive its pro rata share of the general unsecured claim distribution.

Subordinated claims shall not receive or retain any property, interest in property or consideration under the plan. PLx Parent Interests shall not receive or retain any property, interest in property or consideration under the plan. The plan shall be funded through cash and sale of assets.