The US Bankruptcy Court approved the first amended combined plan of liquidation and disclosure statement of PLx Pharma Inc. on September 14, 2023. The debtor has filed its first amended combined plan in the Court on July 26, 2023. As per the amended plan, 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.