NewAge is in post-confirmation liquidation, with the NAI Liquidation Trust still administering the estate, reconciling claims, and keeping the case open rather than moving immediately to a final decree. The company filed chapter 11 on August 30, 2022, after a CRO-led restructuring process followed pressure from COVID-19 effects, supply-chain disruption, China-related operational uncertainty, brand-integration problems, management turnover, and an FCPA investigation; the first-day declaration also described a global health-and-nutrition products platform operating through the Morinda and Ariix businesses, with more than 400,000 brand partners and significant intercompany and accounts-payable debt across the debtor group First Day CRO DeclarationDkt. 12.
The case began around a balance-sheet and liquidity problem rather than a going-concern reorganization. Before filing, NewAge had drawn a $12.0 million East West Bank revolving facility secured by substantially all assets, and the CRO declaration described a proposed $16.0 million DIP facility and stalking-horse structure tied to a potential credit bid for substantially all debtor assets First Day CRO DeclarationDkt. 12. By early 2023, the debtors had shifted onto a liquidation track through their third amended combined disclosure statement and joint chapter 11 plan of liquidation Combined Plan and Disclosure StatementDkt. 383.
The current posture is plan administration. The NewAge post-confirmation report for the quarter ended March 31, 2026 states that the plan was confirmed on March 1, 2023 and became effective on May 4, 2023; the Trust reported $174,005 of cash disbursements for the quarter and $2.4 million cumulatively since the effective date, while general unsecured recoveries remained at $0 and total anticipated plan payments remained unknown pending claims reconciliation and final administrative expenses . The most immediate milestone is claims administration: on April 27, 2026, the Court extended the Liquidation Trustee’s deadline to object to claims through October 26, 2026 .
