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Ciber Bankruptcy Plan Confirmed

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The U.S. Bankruptcy Court confirmed Ciber’s Amended Chapter 11 Plan of Liquidation.

Documents filed with the Court note, “On the Effective Date, the persons acting as Board Members, managers, and officers of the Debtors shall be deemed to have resigned and relieved of all duties under the Debtors’ organizational documents. On and after the Effective Date, the Post-Effective Date Debtors shall be authorized to implement the Plan and any applicable Orders of the Bankruptcy Court….The Post-Effective Date Debtors shall have the power and authority to take any action necessary to implement the Plan and wind down and dissolve the Debtors and Post-Effective Date Debtors. Any expenses and costs incurred by the Post-Effective Date Debtors in connection with the wind down and dissolution activities described in the preceding sentence shall be paid solely from the Post-Effective Date Debtors’ Assets….Zayo shall be granted an Allowed Class 3 Claim against CMTSU Liquidation, Inc. in the amount of $27,750,000.”

This information technology consulting and services provider filed for Chapter 11 protection on April 9, 2017, listing $335 million in pre-petition assets.

Read more Ciber bankruptcy news.