The US Bankruptcy Court approved the second amended joint plan of liquidation of Teligent, Inc. on July 15, 2022. The debtor has filed its second amended plan in the Court on May 24, 2022. As per the amended plan, administrative claims, professional fee claims, priority tax claims and DIP claims of $46.44 million will be paid full in cash.

Other secured claims of $0, priority non-tax claims of $0 and repetition First Lien Credit Agreement Claims of $0 will be paid full in cash. Prepetition Second Lien Credit Agreement Claims of $90.24 million will be recovered 36% and will be paid through pro rata portion of the Second Lien Distribution Amount; and their pro rata portion of any Litigation Proceeds. General unsecured claims of $14.08 million will be recovered 11% and paid through pro rata share of GUC distribution.

Intercompany claims of $0 and all equity interests will be cancelled with no distribution. The plan will be funded through cash in hand, proceeds from sale of assets and GUC distribution.