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…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Source Article

About the author