Lithium Technology Corporation, jointly with the Consenting Lenders, filed a plan of reorganization and related disclosure statement in the US Bankruptcy Court on April 30, 2015. As per the plan, administrative claims, DIP claims of $0.4 million, fee claims, priority tax claims and US Trustee fees will be paid full in cash. Other priority claims $0.07 million will be paid full in cash.

Other secured claims of $3.55 million shall retain its existing secured note lien, the collateral securing such other secured claim and receive a plan secured note in the initial principal amount equal to allowed claim. Prepetition restated note claims of $12.14 million shall receive 100% of the Reorganized Debtor's new common stock. General unsecured claims will receive 50% of their Allowed General Unsecured Claims paid in cash over a two-year term.

Equity interests shall be cancelled and discharged. The plan will be funded from ongoing business operations, issuance of New LTC Common Stock and New LTC Equity Warrants and through Exit Financing facility.