The US Bankruptcy Court approved the modified plan of liquidation and disclosure statement of Pareteum Corporation on October 7, 2022. The debtor has filed its modified plan in the Court on October 4, 2022. As per the amended plan, administrative claims, professional fee claims, priority tax claims, U.S. Trustee fees, secured tax claims, other secured claims, other priority claims, shall be paid in full in cash.

General unsecured claims shall receive its pro rata share of liquidating trust interests entitling such holder to receive, on a distribution date, their pro rata share of the liquidating trust net recovery available for distribution on each such distribution date. Interests shall be cancelled and shall not receive any distribution under the plan. The plan shall be funded though cash and sale of assets.