The US Bankruptcy Court approved the first amended plan of reorganization of Libbey Glass Inc. on October 20, 2020. The debtor has filed its amended plan in the Court on October 15, 2020. As per amended plan filed, administrative claims, professional fee claims, priority tax claims, other priority claims, prepetition ABL claims of $17.2 million and secured tax claims shall be paid in full in cash. DIP facility claims of $160 million will either be paid in part in cash or rolled into Exit Term Loan Facility Loans as part of a cashless roll of DIP Term Loan Facility Claims from the Exit Term Loan Facility Loans and paid in part by the issuance of New Preferred Equity Interests. Other secured claims of $1.5 million shall be paid in cash or such other less favorable treatment as to which the debtors or reorganized debtors or the collateral securing such claim or such other treatment such that it will not be impaired. Prepetition term loan claims (secured portion) are $162.90 million with a recovery rate of 51.1% and will be paid through pro rata share of 100% of the New Equity Interests Pool. General unsecured claims of $155.8 million shall recover less than 1% and receive, satisfaction, settlement, discharge and release of, and in exchange for, such claim, its pro rata share of the general unsecured recovery cash pool of $0.9 million. Intercompany claims shall either be shall be reinstated, compromised, or cancelled. Old parent interests will be cancelled without any distribution. Old affiliate interests shall be owned and held by the same applicable person. The plan will be funded from sale of assets, cash in hand, exit facilities and issue of new equity interest.