Judge Stuart M. Bernstein confirmed the prepackaged plan on March 19, approving the disclosure statement, solicitation procedures, ballots and confirmation in a single order source filing. Class A Senior Secured Notes Claims was the only voting class and the only impaired class; 30 of 32 voting creditors accepted, representing $85.463 million, or 99.46% of the amount voted and 75.03% of the $113.903 million principal note stack source filing source filing.

The confirmed plan cancelled the Senior Secured Notes and related indenture, guarantees and liens, and delivered new PT Arpeni common shares, warrants struck at IDR 150 per share, and a 1% principal cash payment for qualifying supporting holders source filing source filing. Administrative, priority and other unimpaired creditor classes were left whole, equity in the debtor was reinstated, and the court approved the plan’s releases, injunction and exculpation provisions as part of the implementation package source filing.