ECOtality North America files liquidation plan, disclosure statement

By Caroline Salls

Pittsburgh, July 2 – ECOtality North America filed its plan of liquidation and related disclosure statement on Tuesday with the U.S. Bankruptcy Court for the District of Arizona.

The company said a liquidating trust will be created on the plan effective date to liquidate and distribute ECOtality’s remaining assets.

ECOtality will no longer be in business after the plan is confirmed, the disclosure statement said.

Treatment of creditors will include the following:

• Administrative claims and priority non-tax claims will be paid in full in cash;

• Secured claims will either be reinstated, holders will be paid in full in cash or holders will receive the collateral securing the claims;

• Holders of general unsecured claims will receive a share of an unsecured claims fund; and

• Holders of intercompany claims, section 510(b) claims and equity interests will receive no distribution.

ECOtality, a renewable energy company based in San Francisco, filed bankruptcy on Sept. 16, 2013. The Chapter 11 case number is 13-16126.

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