Res 1993-185 - Laserfiche WebLink

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I b lÀ Bankruptcy Code if no class receives more than it is legally entitled to receive for its claims or equity interests. "Fair and equitable" has different meanings for holders of secured and unsecured claims and equity interests. These are set forth in the Code at 11 U.S.C. § 1129(b). X. SUMMÃRY OF Pu.N OF REORGWIZATION A. Summary of the San Marcos Plan Submitted with this Disclosure Statement is a complete copy of the San Marcos Plan. For the specific details of the Plan, reference should be made ~~ to the Plan in its entirety. The summary provided below is merely for the convenience of anyone reading the Disclosure Statement and to the extent that this Disclosure Statement conflicts with the actual Plan, the terms of the Plan will govern. A Claim or Equity Interest is in a particular Class only to the extent the Claim or Equity Interest is an Allowed Claim or Allowed Equity Interest as defined in the Plan. 1. The Plan provides for the division of Debtor's Creditors and Equity Interest Holders into the following five Classes: - . Class 1 - Administrative Expense Claims and Priority Claims Class 2 - Priority Tax Claims .. Class 3 - Claim of HealthVest against Debtor Class 4 - Unsecured Claims against Debtor, excluding HealthVest's Unsecured Claim Class 4A - Small Unsecured Claims against Debtor Class 5 - Equity Interests in Debtor 2. Treatment of Allowed Administrative Expense Claims: Each holder of an Allowed Administrative Expense Claim .entitled to priority under Bank:", .lptcy Code § SO7(a)(1) shall be paid ( i) Cash in the Allowed Arne un t of its Administrative Expense Claim on the Effective Date or (ii) as the holder of the Allowed Administrative Priority Claim and Reorganized San Marcos may otherwise agree; provided that any such Allowed Administrative Expense Claim may be paid in accordance with the ordinary business terms of payment of such Claims and Reorganized San Marcos will not be required to pay such Claims before their due date. Notwithstanding the foregoing, professionals employed , at the expense of the Estate and Persons who may be entitled to an allo..ance of fees and expenses from the Estate pursuant to Bankruptcy Code S 503(b)(2)-(6) shall receive Cash in the amount awarded to such professionals and Persons as soon as is practicable after a Final Order is entered by the - 20 - a-201SS I f