The US Bankruptcy Court approved the disclosure statement on a final basis and second amended joint plan of liquidation of Taronis Fuels, Inc. on August 19, 2024. The debtor has filed its second amended plan in the Court on August 8, 2024. As per the amended plan, administrative expense claims, statutory fees, professional fee claims, priority tax claims, and non-tax priority claims of $0.28 million shall be paid in full in cash.

Miscellaneous secured claims are of $0. General unsecured claims of $18.44 million shall be recovered 9.2% i.e., $1.70 million and shall receive its pro rata share of the liquidating trust assets. Section 510(b) claims and intercompany claims of $0 shall receive no distribution under the plan. Existing interests shall be cancelled.

The plan shall be funded through cash in hand and sale of assets.