Village Roadshow Entertainment Group USA Inc.

Village Roadshow Entertainment Group USA Inc. and its affiliates filed a further revised Joint Plan of Liquidation, incorporating comments received after the February 20 second revised plan and attaching a blackline against that version. The plan puts concrete wind-down economics before the court: Class 1 other secured claims and Class 2 priority claims are unimpaired and paid in full; Class 3A Library Debtors GUCs are unimpaired and paid in full from the Library Reserve or Warner Bros. Reserve; Class 3B Non-Library Debtors GUCs are impaired but receive 85%; Class 4 Senior Secured Notes Claims are impaired and deemed allowed at $157,288,992 plus accrued interest and fees; intercompany and equity classes receive no distribution source filing.

The plan economics turn on the Committee Settlement. The debtors will fund a GUC Trust with a $7.225 million GUC Trust Amount plus a $500,000 initial funding amount, with any shortfall topped up for Class 3B and any excess flowing to the Liquidation Trust for Class 4. The debtors also waive preference claims against holders of allowed Class 3B claims, while the Liquidation Trust holds remaining assets and handles post-effective-date wind-down and distributions source filing.