July 24, 2016 8:50 AM ET

Technology Hardware, Storage and Peripherals

Company Overview of ZCO Liquidating Corporation

Company Overview

On August 18, 2014, ZCO Liquidating Corporation went out of business as per its Chapter 11 liquidation filing under bankruptcy. ZCO Liquidating Corporation designs, manufactures, and distributes solid state drives (SSDs) and computer components primarily in the United States, Germany, the Middle East, Africa, and Europe. The company specializes in high-speed memory in the enterprise and consumer SSD markets, a technology that competes with traditional rotating magnetic hard disk drives. It supports interfaces, including PCI express, SCSI, and serial ATA for personal computers, servers, data storage systems, and industrial equipment; and offers enterprise products comprise Deneva 2 SATA SSDs,...

6373 San Ignacio Avenue

San Jose, CA 95119

United States

Founded in 2002

597 Employees

Phone:

408-733-8400

Fax:

408-733-5200

Key Executives for ZCO Liquidating Corporation

ZCO Liquidating Corporation does not have any Key Executives recorded.

ZCO Liquidating Corporation Key Developments

First Amended Liquidation Plan Approved for ZCO Liquidating Corporation

The US Bankruptcy Court approved the first amended plan of liquidation of OCZ Technology Group, Inc. on July 30, 2014. The debtor had filed its amended plan in the Court on June 11, 2014. As per the amended plan, other administrative expense claims, 503(b)(9) Claims of $0.12 million, US Trustee fees of $0.03 million, professional fee claims of $0.03 million and priority tax claims of $0.04 million shall be paid in full in cash. Debenture claims of $13.10 million shall receive pro rata share of initial Class III distribution, net proceeds from liquidation of liquidation trust assets, liquidation trust funding loan repayment and remaining litigation proceeds.Allowed Hercules senior claim of $0.03 million will be paid from first litigation proceeds remaining. General unsecured claims of $20 million shall receive no distribution under the plan. But if there are any GUC litigation proceeds, it will receive pro rata share of GUC Litigation proceeds. Subordinated claims of $6.50 million shall receive no distribution under the plan. But if there is surplus of available cash in liquidation proceeds after payment of other classes, the claim shall be given pro rata share of GUC Litigation proceeds. Equity interests shall be cancelled and receive no distribution under the plan. The plan shall be funded from cash of $1.13 million and sale of assets of the estate.

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