MDLQ - NYSE to delist Medley Management stock after Medley LLC files for Chapter 11
Medley LLC filed for Chapter 11 bankruptcy proceedings on July 6, the company said in an SEC filing submitted after the close of trading on Wednesday.As a result the NYSE started the process to delist and suspend trading of Medley Management (MDLY) common stock and Medley LLC notes; its publicly traded notes include Medley LLC notes due 2024 (MDLQ) and Medley LLC senior notes due 2026 (MDLX).Medley LLC proposed a Chapter 11 plan of reorganization and wind-down of Medley LLC, the filing said.Noteholders will come after holders of secured claims and other priority claims in the line-up for Medley LLC assets.Each holder of an allowed notes claim will get a pro rata share of the unsecured claims pool which consists of all of the Liquidating Trust Assets after payments of allowed secured claims, allowed administrative expenses, allowed priority claims, and Liquidating Trust expenses.Previously (July 6), Medley Management stock halted, news
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NYSE to delist Medley Management stock after Medley LLC files for Chapter 11