Liquidation plan confirmed with $6.5 million Resilience commitment
The court overruled all unresolved objections and confirmed Alachua Government Services’ amended liquidation plan. Under the Confirmation Order, the approved global settlement requires Resilience to contribute $3 million in cash to the liquidation trust and allocates $3.5 million of its secured claim to holders of severance deficiency and general unsecured claims making the cash recovery election.
Once the plan’s effective-date conditions are satisfied or waived, the liquidation trust assets will vest automatically in the trust, the liquidation trustee will assume control of the wind-down and claims administration, and the creditors’ committee will dissolve. The effective-date notice will also start a 30-day deadline for administrative-expense and contract-rejection claims. A $907,145.75 reserve must remain available while the Alachua County Tax Collector’s entitlement is resolved. Attention now shifts from confirmation risk to the effective date, trust funding, claim reconciliation and distributions.