The US Bankruptcy Court approved the fifth amended plan of liquidation of Tricida, Inc. on May 23, 2023. The debtor has filed its fifth amended plan in the Court on May 22, 2023. As per the fifth amended plan, administrative claims, professional fee claims, priority tax claims, U.S. Trustee statutory fees, other secured claims, other priority claims of $0.05 million, shall be paid in full in cash.

Noteholders claims of $210.09 million shall be recovered 8% i.e., $16.09 million and shall receive cash, receive its pro rata right to recovery from the Liquidating Trust pursuant to the Liquidating Trust Waterfall; and receive its pro rata right to recovery from the Contingent Payments Holding Trust. Patheon rejection claim of $85 million shall be recovered 8% i.e., $6.80 million and shall receive cash, receive its pro rata right to recovery from the Liquidating Trust pursuant to the Liquidating Trust Waterfall; and receive its pro rata right to recovery from the Contingent Payments Holding Trust. General unsecured claims of $14.68 million shall be recovered 8% i.e., $1.17 million and shall receive cash, receive its pro rata right to recovery from the Liquidating Trust pursuant to the Liquidating Trust Waterfall; and receive its pro rata right to recovery from the Contingent Payments Holding Trust.

De Minimis unsecured claims of $0.06 million shall be recovered 50% i.e., $0.03 million and shall be paid in cash. Section 510(b) claims shall receive no distribution under the plan and shall be cancelled. Interests shall be cancelled.

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