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FiberTower Plan Filed

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FiberTower filed with the U.S. Bankruptcy Court a Third Amended Chapter 11 Plan. A related Disclosure Statement was not filed as a result of the December 12, 2013 Court order approving the Disclosure Statement for the Company’s Second Amended Joint Chapter 11 Plan. According to the Third Amended Plan, “On the Effective Date, except to the extent that a Holder of an Allowed 2016 Claim agrees to less favorable treatment, each Holder of an Allowed 2016 Claim shall be entitled to receive, in full satisfaction of such Claim, (i) its Pro Rata share of one hundred percent (100%) of the New FiberTower Common Stock and (ii) its Pro Rata share (together with the other Beneficiaries, but without duplication of the Allowed 2016 Guaranty Deficiency Claims) of the Litigation Trust Interests to the extent of its 2016 Deficiency Claim. The 2016 Claims shall be Allowed in the aggregate amount of $131,779,772.00 plus accrued and unpaid interest, fees, expenses and other charges accruing prior to the Petition Date, less any amounts applied as payment of principal from the Petition Date through the Effective Date. The 2016 Deficiency Claims shall be Allowed in the aggregate amount of $89,529,772. Class 1B is impaired by the Plan. Class 1B is impaired by the Plan.” In addition, “On the Effective Date, all FiberTower Equity Interests shall be cancelled and extinguished. Holders of such FiberTower Equity Interests shall not receive nor retain any property under the Plan on account of such FiberTower Equity Interests. Class 1G is impaired by the Plan.” The Plan does not provide for the substantive consolidation of the Debtors’ estates.

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