Lucira Health’s Chapter 11 liquidation plan effective as of Oct. 4

By Sarah Lizee

Olympia, Wash., Oct. 5 – Lucira Health, Inc.’s Chapter 11 plan of liquidation went into effect on Wednesday, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.

The plan was confirmed on Sept. 19.

As previously reported, Lucira sold its assets to Pfizer Inc. on April 20.

The plan provides for the appointment of a liquidating trustee that will administer and liquidate all assets, object to and settle claims, and prosecute retained causes of action.

The plan also provides for the debtor’s release of claims and causes of action against certain parties, as well as the release of claims and causes of action against certain third parties by certain claimholders.

All interests in the debtor will be canceled, and the company will be dissolved.

Secured claims and other priority claims will be paid in full.

Holders of general unsecured claims will receive their pro rata right to recovery from a liquidating trust.

Holders of section 510(b) claims will receive nothing.

Lucira is a medical technology company based in Emeryville, Calif. The company filed bankruptcy on Feb. 22, 2023 under Chapter 11 case number 23-10242.

© 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.