The US Bankruptcy Court approved the amended plan of reorganization of PMI Group Inc. on July 25, 2013. The debtor has filed its amended plan in the Court on June 3, 2013. As per the amended plan, the plan shall be funded through new equity and cash of $200 million under the plan.

The estimated amount of 8.309% Junior Subordinate Deferrable Interest Debentures, Series A shall be $51.59 million. Indenture Trustee Fees will be allowed for the amount of $0.5 million. Administrative claims, professional claims, priority tax claims, priority claims, US trustee claims and indenture trustee fees shall be paid in full in cash.

Secured claims shall either receive cash in full or receive the property securing the claim. General unsecured claims of $10.3 million shall receive its pro rata share of the creditor's cash and new common stock. General unsecured claims estimated recovery shall be around 27%.

Senior Note claims of $691.06 million shall receive its pro rata share of the creditor's cash and new common stock. Senior Note claims estimated recovery shall be around 29%. Subordinated Note claims shall receive its pro rata share of the creditor's cash and new common stock, however that any distribution of common stock and creditor cash to holders of allowed subordinated Note claims shall be redistributed to the senior note indenture trustee for the benefit of holders of allowed senior note claims in accordance with the subordination provisions.

Convenience claims of $0.1 million shall be paid 90% of the amount of its allowed convenience claim in cash. Equity interest shall receive no distribution under the plan and shall be cancelled. The PMI Group, Inc. filed modifications to the first amended plan of reorganization on September 26, 2013.