ESP Petrochemicals, Inc. filed a joint plan of liquidation in the US Bankruptcy Court on December 5, 2016. As per the plan filed, Administrative Claims, U.S. Trustee fees, Priority Claims, Professionals Claims and Allowed Secured Claim of Taxing Authorities shall be paid in full in cash. Allowed Secured Claim of Hillair of $1.38 million shall be paid in full cash and Allowed Secured Claim of ARC Products, Inc. of $1.13 million shall be paid the value of its secured claim from the remaining net sales proceeds after payment to all other superior claim classes. Other Allowed Secured Claims shall be settled by surrender of the collateral to the Holder of the Allowed Secured Claim. Allowed General Unsecured Claims shall receive a pro rata share of remaining net sales proceeds. Allowed Interests of Equity Holders shall be cancelled and shall receive no distribution unless allowed general unsecured claims are paid in full. Allowed Interests of Warrant Holders shall be cancelled and shall receive no distribution under the plan. The plan shall be funded from debtor’s cash in hand and sale of debtor’s assets.