The US Bankruptcy Court approved the prepackaged joint plan of reorganization of Forbes Energy Services Ltd. on March 29, 2017. The Court also approved the disclosure statement of Forbes Energy Services Ltd. on March 29, 2017. The debtor has filed its prepackaged joint plan and disclosure statement in the Court on January 22, 2017, which was modified on March 22, 2017. As per the approved plan, administrative claims, priority tax claims, other priority claims shall be paid in full in cash. Other Secured Debt Claims in the amount of $1.5 million shall be paid in full in cash. Senior Secured Debt Claims in the amount of $24.01 million shall be paid in full in cash. Senior Unsecured Notes Claims in the amount of $312.33 million shall receive its pro rata share of $20 million in cash and 100% of the New Common Stock. General Unsecured Claims in the amount of $8 million shall receive Cash in an amount equal to such allowed claim. Intercompany Claims will be reinstated. Equity Interests in parent will be deemed cancelled upon the effective date. On the effective date, reorganized parent will own 100% of the equity interests in subsidiaries, directly or indirectly. The plan shall be funded through cash on hand, issuance of equity and exit financing in the amount of $50 million.