About the Liquidating Trust
The Heilig-Meyers Liquidating Trust (“Liquidating Trust”) was created pursuant to the provisions of the Third Amended and Restated Joint Liquidating Plan of Reorganization (the “Plan) proposed by Heilig-Meyers Company, Heilig-Meyers Furniture Company, Heilig-Meyers West, Inc., HMY Star, Inc. and MacSaver Financial Services, Inc. as debtors and debtors in possession (hereinafter referred to as “Heilig-Meyers”) and the Official Committee of Unsecured Creditors, dated December 7, 2005 (the “Plan”) filed in the United States Bankruptcy Court for the Eastern District of Virginia (the “Court”).
The Plan was confirmed by the Court by Order entered on December 23, 2005 and became effective on February 17, 2006 (the “Effective Date’).
The Liquidating Trust has been created on behalf of, and for the sole benefit of, the holders of Allowed Unsecured Claims in Class 5a and Class 5b as set forth in the plan. On the Effective Date, the Liquidating Trust was created for the purpose of, among others things, liquidating the Debtors’ remaining assets and making distributions as contemplated by the Plan. Anthony H.N. Schnelling became the trustee of the Liquidating Trust (the “Trustee”). Heilig-Meyers Company and each of its subsidiaries was dissolved on February 17, 2006 pursuant to the Plan