December 13, 2017 3:28 AM ET

Real Estate Management and Development

Company Overview of Tawk Development, LLC

Company Overview

Tawk Development, LLC operates an apartment community. It offers apartments for rent in Las Vegas. The company was incorporated in 2006 and is based in Las Vegas, Nevada.

5067 Madre Mesa Drive

Las Vegas, NV 89108

United States

Founded in 2006

Phone:

702-577-3002

Fax:

702-441-1440

Key Executives for Tawk Development, LLC

Tawk Development, LLC does not have any Key Executives recorded.

Tawk Development, LLC Key Developments

Amended Reorganization Plan Approved for Tawk Development, LLC

The US Bankruptcy Court approved the amended plan of reorganization of Tawk Development LLC on July 13, 2016. The debtor has filed its amended plan in the Court on June 11, 2016. As per the amended plan, administrative claims of $0.16 million, professional fee claims and priority tax claims will be paid in full in cash. Secured claims of $22.56 million will be paid through restructured loan document. Other secured claims will be paid in cash in full satisfaction. The general unsecured claims of $0.08 million will be paid in cash. Equity interest will be reinstated. The plan will be funded from cash in hand and ongoing business operations and through issuance of new restructured note.

Amended Reorganization Plan and Disclosure Statement Filed by Tawk Development, LLC

Tawk Development, LLC filed an amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on June 15, 2016. As per the plan, the administrative claims of $0.16 million and professional fee claims of $0.15 million will be paid in full in cash. The secured lender claims of $22.56 million will be paid as per settlement agreement signed between debtor and lender parties as per new repayment plan. The other secured claim of $0.14 million will be paid in cash in full satisfaction. The plan will be funded from cash in hand, NewCo Funding and NewCo Loan. There is no change in treatment of various other claimant classes.

Pre-Packaged Reorganization Plan Filed by Tawk Development, LLC

Tawk Development, LLC filed a pre-packaged plan of reorganization in the US Bankruptcy Court on December 18, 2015. As per the plan filed, administrative claim, quarterly fees to the United States Trustee, allowed priority tax claims, professional fees and other priority unsecured claims shall be paid in full in cash. Secured lender claim shall be reinstated as per the existing loan documents. Secured sewer claim shall be paid in full in cash, General unsecured claims shall be paid either 30% of their allowed general unsecured claim under the single payment election or shall be paid in full with interest in the form of initial distribution and then subsequent quarterly distributions. All the holders of equity securities of the debtor shall retain all of their legal interests. The plan shall be funded from debtor’s cash in hand and the reorganized debtor shall continue to exist as a separate entity.

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