The US Bankruptcy Court approved the first amended joint plan of liquidation of Sequential Brands Group, Inc. on February 22, 2022. The debtor has filed its amended plan in the Court on January 3, 2022. As per the amended plan, administrative claims, priority tax claims, professional fee claims, other secured claims, other priority claims, shall be paid in full in cash.

Term B secured claims shall be recovered between 95%-98% and shall receive its pro rata share of liquidating trust interests. General unsecured claims and section 510 claims shall be cancelled and shall not receive any distribution under the plan. Intercompany claims shall be reinstated or cancelled and shall not receive or retain any property on account of such claims. Intercompany interests shall be reinstated or cancelled and shall not receive or retain any property on account of such claims. Existing Parent Equity Interests shall be canceled and shall not receive any distribution or retain any property pursuant to the plan.

The plan shall be funded through cash and sale of assets or liquidation trust.