- Amended WPG plan and disclosure statement were filed very late on August 24.
- Preferred shareholders' cash recovery increases from about $2.52 to $4.41 per share and new equity increases to 6.0625% from 3.0625%.
- Common shareholders electing to receive new equity are now allowed to participate in a rights offer, but cash remains the same.
- The announcement of an amended plan was during a status conference regarding the disbandment of the Official Unsecured Creditor Committee.
- Confirmation hearing was reset again to September 3 from August 30.
For further details see:
Washington Prime's Reorganization Plan Was Amended, Giving Larger Recoveries For Equity Holders