Current updates are not available. Earlier updates remain below for historical context and may no longer reflect the case’s current position.
Earlier updates
These updates were replaced by later case developments and may no longer reflect the current case.
Hearings·
Pappas Piping Services filed its First Amended Chapter 11 Plan, proposing to pay allowed general unsecured claims in full, with 3.8% federal judgment-rate interest over an approximately three-year term. The amended planDkt. 148 estimates general unsecured claims at $3.23 million, funds distributions from cash on hand and continued operations, and lets creditors elect a convenience-class recovery of 50% capped at $25,000 in exchange for waiving the balance.
The debtor treats Live Oak Banking Company and West American Finance Corporation/Steve Harmson as impaired secured voting classes; Pirs Capital is unimpaired. The hearing noticeDkt. 150 sets confirmation for October 27, with plan objections due October 6. The amended proposal now defines the key voting, feasibility, and recovery issues creditors must assess ahead of confirmation.
