Company Overview of ID&T/SFX Sensation LLC
ID&T/SFX Sensation LLC organizes a music festival. The company was incorporated in 2013 and is based in New York, New York. ID&T/SFX Sensation LLC operates as a subsidiary of SFX Entertainment, Inc.
430 Park Avenue
New York, NY 10022
Founded in 2013
Key Executives for ID&T/SFX Sensation LLC
ID&T/SFX Sensation LLC does not have any Key Executives recorded.
ID&T/SFX Sensation LLC Key Developments
Fifth Amended Reorganization Plan Approved for SFX Entertainment, Inc.
Nov 15 16
The US Bankruptcy Court approved the fifth amended plan of reorganization of SFX Entertainment, Inc. on November 15, 2016. The debtor filed its fifth amended plan in the Court on September 30, 2016. As per the plan filed, administrative claims of $0.28 million, priority tax claims and professional fee claims will be paid in full in cash. Tranche A and B DIP claims will be paid in combination cash and equity, respectively. Original Foreign Loan claims will be paid in equity. Other secured claims will be paid in cash. General unsecured claims will be paid in combination of cash and equity. Subordinated Claims-2019 debtors will be cancelled and no distribution will be paid. Intercompany claims will be reinstated. Intercompany equity interests will be retained. The interest in SFX Equity will be cancelled and no distribution will be paid. The plan will be funded from cash in hand, ongoing business operations, issuance of new facilities and issuance of new reorganized debtor's equity interests.
Fifth Amended Reorganization Plan and Disclosure Statement Filed by SFX Entertainment, Inc.
Sep 30 16
SFX Entertainment, Inc. filed fifth amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on September 30, 2016. As per the amended plan, there shall be no changes in the treatment of any claim class.
Fourth Amended Reorganization Plan & Related Disclosure Statement Filed by SFX Entertainment, Inc.
Sep 26 16
SFX Entertainment, Inc. filed fourth amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on September 26, 2016. As per the amended plan, Tranche A DIP facility claims shall receive payment full in cash through the proceeds of new series A Preferred stock. Tranche B DIP facility claims of $57.60 million plus $2.30 million of commitment fee plus $0.97 million of interest plus $2.69 million of interest on incremental loans, shall receive 100% of new series B Preferred stock and 70% of new common stock. Allowed Incremental Tranche B DIP Accordion Claims of $2 million shall receive new series A Preferred stock having face amount of 102% of allowed claim and pro-rata share of new common stock. Foreign loan facility has been increased to $72 million. Treatment of all the other classes of claims remain same as per the previous plan.
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