The US Bankruptcy Court approved the second amended plan of liquidation of Beverly Hills Bancorp Inc. on November 20, 2014. The debtor has filed its second amended plan in the Court on August 22, 2014. As per the amended plan, administrative claims, for the amount of $0.38 million, shall be paid in full in cash.

Tax claims of $4772 will be paid in full in cash. Professional fee claims and statutory fees shall be paid in full in cash. Non-tax priority claims shall be paid in full in cash.

There will be no allowed non tax priority claims under the plan. Secured claims shall retain collateral, deferred cash payment or indubitable equivalent. The debtor estimates that there will be no secured claims under the plan.

Allowed general unsecured claims of $28.78 million will be paid $5.76 million in cash. Allowed indemnification claims will be paid in cash. Convenience class claims, for the amount of $0.04 million, shall receive cash equal to 95% of the allowed amount.

Equity interests shall receive no distribution and will be cancelled under the plan. The plan shall be funded through cash in hand of $6.37 million.