Conn's, Inc.

Conn's obtained approval to offer known 503(b)(9) administrative claimants an accelerated cash settlement equal to 30% of their claims, with acceptance treated as full and final satisfaction of the participating creditor's 503(b)(9) claim. The debtors had identified 44 holders of 503(b)(9) claims totaling about $4.99 million and framed the program as a way to avoid claim-by-claim litigation while they lacked lender approval to make broader distributions or confirm a liquidation plan, according to the accelerated payment motion.

The court approved the motion on the record at the April 15 hearing and entered the order approving accelerated 503(b)(9) payment procedures. Creditors must opt in by 4:00 p.m. Central Time on May 15, 2025; payments are due within 10 days after the earlier of that deadline or the creditor's opt-in. The practical point is immediate: trade creditors now face a short election window between taking a 30% near-term recovery with releases or preserving disputed rights in an estate that has not yet secured a confirmed liquidation path.