American Virtual Cloud Technologies, Inc.: going-concern / distress — AVCT Chapter 11 liquidation plan confirmed, equity holders receive no distribution

American Virtual Cloud Technologies, Inc.

Court confirmed Plan of Liquidation on May 23, 2023; effective May 30, 2023.
Common stock and warrants cancelled; equity holders receive no distribution.
Plan Administrator appointed: IRC Consulting, Inc. (Charles E. Sweet).
General unsecured claims (Class 3) may receive distributions under the Plan.
Administrative expense claims due within 30 days after Effective Date.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

American Virtual Cloud Technologies, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-01-11).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2023-01-11

Exact text from the filing

As previously disclosed, on January 11, 2023, American Virtual Cloud Technologies, Inc. (the “Company”) and two of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware

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Source: SEC EDGAR

accession 0001213900-23-044096

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