Marshall Broadcasting combined plan, statement hearing Feb. 16

By Sarah Lizee

Olympia, Wash., Jan. 15 – Marshall Broadcasting Group, Inc.’s combined hearing on its Chapter 11 plan of reorganization and related disclosure statement has been scheduled for Feb. 16, according to a notice filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

The debtor’s cash on hand, comprised primarily of the proceeds from the wind-down budget and the settlement payment from Nexstar Broadcasting, Inc., will fund distributions under the plan, as previously reported.

Holders of administrative claims will be paid the full unpaid amount of their claims on the effective date.

Holders of priority tax claims will be treated in line with section 1129(a)(9)(C) of the Bankruptcy Code and will receive interest on their claims after the effective date.

Holders of other secured claims will be paid in full in cash or receive the collateral securing their claims.

Holders of other priority claims will be paid in full in cash.

Holders of general unsecured claims will be paid in full in cash or have their claims reinstated.

Equity interests will be retained.

Marshall is a Houston-based broadcasting company. The company filed bankruptcy on Dec. 3, 2019 under Chapter 11 case number 19-36743.

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