Bloomberg Law
Aug. 24, 2021, 9:56 PM

SoftBank-Backed Katerra Gets Nod to Solicit Votes on Liquidation

Allison McNeely
Allison McNeely
Bloomberg News

Katerra Inc., a construction firm based in Silicon Valley, got interim court approval for its disclosure statement and to collect votes on a proposed bankruptcy plan that would fully repay secured lenders.

  • The official creditor committee filed an objection to the disclosure statement, and a motion to terminate the company’s exclusive control over its Chapter 11, in order to be able to pursue claims against the debtor’s directors and officers
  • Judge David Jones approved the Katerra disclosure statement in a court hearing in Houston Tuesday
  • Earlier: SoftBank-Backed Katerra Seeks Liquidation After Selling Assets
  • The case is Katerra, Inc., ...