The US Bankruptcy Court approved the further revised first modified joint prepackaged plan of reorganization and related disclosure statement of Jason Industries, Inc. on August 26, 2020. The debtor has filed its further revised first modified joint prepackaged plan in the Court on August 17, 2020. As per the amended plan, administrative claims, professional fee claim, priority tax claims, statutory fees and other priority claims shall be paid in full in cash. Other secured claims shall either be paid in full in cash or delivered the collateral securing it’s allowed other secured claim or reinstated or such other treatment in accordance with section 1124 of the Bankruptcy Code. First lien secured credit agreement claims of $202.10 million is expected to recover 89% i.e. $179.87 million and shall receive its pro rata share of and interest in the new first lien term loan facility, the new junior lien convertible term loan facility, 100% of the new Jason equity, subject to dilution by management incentive plan, and the new junior convertible term loans minus the unencumbered plan recovery, and if applicable, the first lien put option. First lien credit agreement deficiency claims of $78.90 million shall be recovered 6.7% i.e. $5.29 million and shall receive its pro rata share of and interest in the unencumbered plan recovery. Second lien credit agreement claims of $94.5 million is expected to recover shall be recovered 6.7% i.e. $6.33 million and shall receive the unencumbered plan recovery. General unsecured claims shall either be reinstated or payment in full in cash on the later of the effective date or as soon as reasonably practicable thereafter or the date such payment is due in the ordinary course of business in accordance with the terms and conditions of the particular transaction giving rise to such allowed general unsecured claim; or such other treatment rendering such allowed general unsecured claim unimpaired. Intercompany claims and intercompany interests shall either be reinstated or canceled and released without any distribution. Jason Common Interests and Jason Preferred Interests will be cancelled, released, and extinguished, and will be of no further force or effect. The plan will be funded from available cash, new first lien term loan facility of $75 million, new junior lien convertible term loan facility of $50 million, new revolving exit facility of $30 million, and proceeds from the equity of reorganized debtor.