Home Interiors plan unanimously approved by nine of 10 classes

By Caroline Salls

Pittsburgh, May 24 - Home Interiors & Gifts, Inc.'s plan of liquidation was unanimously approved by nine of 10 voting creditor classes, according to a Friday filing with the U.S. Bankruptcy Court for the Northern District of Texas.

Specifically, all 20 holders of $263.23 million in group one lender claims, all seven holders of $15.07 million in group two lender claims, the one holder of $52,591 in Home Interiors other secured claims, all 23 holders of $17.96 million in Dallas Woodcraft general unsecured claims and all eight holders of $17.23 million in DWC general unsecured claims voted to accept the plan.

In addition, all eight holders of $17.23 million in Titan general unsecured claims, all 25 holders of $18.71 million in Laredo Candle general unsecured claims, all eight holders of $17.23 million in Home Interiors Holdings general unsecured claims and all eight holders of $17.23 million in HI Puerto Rico general unsecured claims voted to accept the plan.

Meanwhile, 52 holders, or 94.23% in number, of $35.15 million, or 99.68% in amount, of Home Interiors general unsecured claims voted to accept the plan, and three holders, or 5.77% in number, of $113,939, or 0.32% in amount, of these claims voted to reject it.

The plan confirmation hearing is scheduled for Wednesday.

Home Interiors & Gifts is a Dallas-based integrated manufacturer and distributor of home decorative accessories. The company filed for bankruptcy on April 29, 2008. Its Chapter 11 case number is 08-31961.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.