July 24, 2016 12:36 AM ET

Diversified Financial Services

Company Overview of Oak Rock Financial, LLC

Company Overview

Oak Rock Financial, LLC provides financing for other lenders to loan for business-related purchases. Oak Rock Financial, LLC was founded in 2001 and is based in Bohemia, New York. On April 29, 2013, an involuntary petition for liquidation under Chapter 7 was filed against Oak Rock Financial, LLC in the U.S. Bankruptcy Court for the Eastern District of New York. On May 6, 2013, the involuntary petition was approved by the Court and the Chapter 7 petition was converted to Chapter 11 reorganization.

3900 Veterans Highway

Suite 351

Bohemia, NY 11716

United States

Founded in 2001

Phone:

631-580-5700

Fax:

631-580-5777

Key Executives for Oak Rock Financial, LLC

Oak Rock Financial, LLC does not have any Key Executives recorded.

Oak Rock Financial, LLC Key Developments

Amended Liquidation Plan Withdrawn for Oak Rock Financial, LLC

Oak Rock Financial, LLC withdrew its amended Chapter 11 liquidation plan from the US Bankruptcy Court on October 6, 2015. The amended liquidation plan was filed by the debtor and official committee of unsecured creditors on November 19, 2015. As the plan has been pending in this Court for the past 11 months and no confirmation order has been entered the debtor withdrew its plan.

Liquidation Plan and Disclosure Statement Filed by Oak Rock Financial, LLC and Bank Group

Oak Rock Financial, LLC, along with the Israel Discount Bank of New York as Agent, Bank Leumi USA, Capital One, N.A., and Bank Hapoalim B.M., filed a joint plan of liquidation and disclosure statement in the US Bankruptcy Court on October 6, 2015. As per the plan filed, Administrative Claims, IDB Superpriority Administrative Claim of $9.1 million, U.S. Trustee Fees, Professional Fee Claims of $5.37 million, Priority Tax Claims, Priority Claims and IDB Secured Claim of $66.15 million will be paid in cash in full satisfaction from the proceeds of its collateral and payments received by the Liquidating Trust. General Unsecured Claims of $0.05 million will receive $2,500 will be paid in cash. Bank Group Deficiency Claim of $35 million, The IDB Participation Claim and the Leumi Participation Claim of $7.2 million and The Dell/Stephens Claims will be paid in cash. Participant Claims (Tier I) will have a recovery of 10% and Participant Claims (Tier III) will have a recovery of 5% and will be paid in cash. Equity Interests will be cancelled and will not receive any distribution. The plan will be funded by cash in hand and sale of assets.

First Amended Liquidation Plan and Disclosure Statement Filed by Oak Rock Financial, LLC

Oak Rock Financial, LLC, along with the official committee of unsecured creditors, filed an amended joint plan of liquidation along with the disclosure statement in the US Bankruptcy Court on November 19, 2014. As per the plan filed, IDB Participation Claim and Leumi Participation Claim will have 100% recovery and will be paid in full in cash. The treatment of all other claims remains unchanged.

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