Vector Launch’s Liquidation Plan Cleared for Creditor Voting

Nov. 18, 2020, 9:55 PM

Bankrupt space technology startup Vector Launch Inc. received court permission to solicit votes for its liquidation plan that’s expected to pay unsecured creditors up to 19% of their claims.

The combined plan and disclosure statement, approved Wednesday by Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware for the limited purpose of sending it to a vote by eligible creditors, calls for the creation of a trust to liquidate claims remaining after most of the company’s assets were sold earlier in the year.

The liquidating trust would be funded with whatever cash is left after ...

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