Prysm Cruises To Unopposed Ch. 11 Plan Confirmation

Law360 (September 15, 2020, 6:43 PM EDT) — Big-screen display and software maker Prysm Inc. received approval Tuesday from a Delaware bankruptcy judge for its Chapter 11 plan of reorganization, just five weeks after filing its insolvency petitions as no parties to the case opposed the plan.

During a hearing conducted via phone and videoconference, debtor attorney Ronald S. Gellert of Gellert Scali Busenkell & Brown LLC said the pre-packaged plan hadn’t changed much since it was filed on Aug. 6, the first day of the case. It calls for senior secured lender ESW Capital to pay $12 million in cash for Prysm’s software assets while pledging to spin-off…

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