Liquidating plan goes effective and starts claims deadlines
RMBR Liquidation, Inc., the post-sale debtor name for Things Remembered, put its confirmed liquidating plan into effect on June 25, 2019, moving the case from confirmation into wind-down and distributions. The court had confirmed the Joint Chapter 11 Plan and approved the disclosure statement on June 12, authorizing the debtors to consummate the plan and related transactions under the confirmation order.
The immediate issue for creditors is deadlines: the Notice of Effective Date sets July 19, 2019 at 4:00 p.m. ET as the bar date for administrative claims arising on or after April 30, 2019, and July 25, 2019 at 4:00 p.m. ET for professional fee claims. Rejection damages claims are due by the earlier of the general unsecured-claims deadline or 21 days after an order approving rejection of the relevant contract or lease. Missing those dates means the claim is not allowed for plan distribution purposes, so the effective-date notice is the practical start of the final recovery process.