A Medical Device Daily
Impath (New York) reported that the date of the third amended joint plan of liquidation under Chapter 11 of the U.S. Bankruptcy Code for Impath and its debtor subsidiaries will be July 22, confirmed by the U.S. Bankruptcy Court for the Southern District of New York.
Anthony Schnelling will become the trustee of the Impath Bankruptcy Liquidating Trust. The record date under the plan to determine holders of record of Impath’s common stock is July 15. The record date holders shall be deemed to have converted their shares of common stock on a 1-for-1 basis to beneficial interests in the liquidating trust to be designated as Impath Bankruptcy Liquidating Trust, Class A Beneficial Interests. The beneficial interests will be distributed by the American Stock Transfer and Trust Co. to record date holders on or after the effective date, at which time the stock of Impath will be cancelled.
The initial and subsequent cash distributions will be made to holders of record of beneficial interests as of the record date for each distribution, five business days prior to each cash distribution date.
Impath filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York in 2003 (MDD, Sept. 30, 2003).
Impath is a source of cancer information and analyses, with a database of more than 1 million patient profiles and outcomes data on more than 2.3 million individuals.