On February 12, 2016, the Bankruptcy Court, with Judge Barry Russell presiding, confirmed the Plan of Reorganization in the case of Green Fleet Systems. Member Elissa D. Miller represented the Official Committee of Unsecured Creditors.
The Plan was a result of a consensual agreement between the Debtor, its secured creditors and the Committee. Pursuant to the Plan, the unsecured creditor’s class will receive distributions totaling 40% of the allowed unsecured claims. If not for this Plan’s confirmation, unsecured creditors would have received nothing, as there were no unencumbered assets in the case.
