Marsh Supermarkets Holding secures confirmation of liquidation plan

By Caroline Salls

Pittsburgh, June 11 – Marsh Supermarkets Holding, LLC’s plan of liquidation was confirmed on Monday, according to an order filed with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, Marsh’s official committee of unsecured creditors is also a proponent of the plan.

The plan provides for the liquidation of the company’s assets, which “are largely limited to cash and retained causes of action,” according to the disclosure statement.

The plan calls for the creation of a liquidating trust that will administer and liquidate all assets and make plan distributions.

All equity interests in the Marsh debtors will be cancelled, and the estates will be dissolved. Remaining assets will be transferred to the trust.

Administrative claims, priority tax claims, secured claims and priority claims will be paid in full.

Holders of general unsecured claims will receive their share of liquidating trust interests, entitling them to distributions from asset proceeds.

Holders of subordinated claims will receive no distribution.

Marsh, an Indianapolis-based grocery chain, filed bankruptcy on May 11, 2017. The Chapter 11 case number is 17-11066.

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