Chapter 11 Announced - Part 8 - TCC Term Sheet & Plan Confirmation
BSA, TCC, FCR, Coalition, Ad Hoc LC Committee, Pfau/Zalkin reached agreement on this term sheet. Please note that the CO Committees were not listed. Other state court counsels also agree.
Link Here
Pfau/Zalkin & state court counsels will attempt to get their clients to change votes from Reject to Accept.
Changes to many sections (note this is current list/understanding, will clarify more in comments):
Definition of abuse claim and addition of a new "mixed claim" where
How underfunded is the TDP? That's a question I have had and with the provided excel sheet, I tried to make an educated guess. This includes: all non-rejected claims and all claims with a council listed (i.e., if no LC was listed, it's not included)... this is somewhere around 43,000 claims.
The basis is $3,500 for all who selected the expedited distribution and the base matrix value with no scaling factors except the mid-point of the different SOL scaling factors for all others.
As