The US Bankruptcy Court approved the second amended plan of liquidation of Zosano Pharma Corporation on November 22, 2022. The debtor has filed its second amended plan in the Court on November 22, 2022. As per the amended plan, administrative expense claims, professional fee claims, priority tax claims, United States Trustee statutory fees, other priority claims of $0.03 million, shall be paid in full in cash.

Secured claims and subordinated claims of $0 shall be paid in cash. General unsecured claims of $10.72 million shall be recovered 34% i.e., $3.64 million and shall be paid in cash. Interests in the Debtor shall be cancelled and shall not receive any distribution under the plan.

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