Solavei’s proposed reorganization plan backed by most voting creditors

By Kali Hays

New York, April 13 – Solavei, LLC’s Chapter 11 plan of reorganization received support from five out of six creditor voting classes, according to an April 10 notice with the U.S. Bankruptcy Court for the Western District of Washington.

Specifically, three classes of allowed secured claims totaling $33.31 million and two classes of priority employment claims of unspecified dollar amounts voted to accept the reorganization plan. Eleven holders of allowed general unsecured claims totaling $13.94 million also voted in favor of the plan, while a single general unsecured claimant totaling $249,138 voted to reject the plan.

A confirmation hearing is set for April 15.

Solavei, a social commerce telecommunications company with headquarters in Bellevue, Wash., filed for bankruptcy on June 11, 2014. The Chapter 11 case number is 14-14505.

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