The US Bankruptcy Court approved the second amended plan of liquidation of Orbital Infrastructure Group, Inc. on November 28, 2023. The debtor has filed its second amended plan in the Court on November 22, 2023. As per the amended plan, administrative expense claims, priority tax claims, U.S. trustee fees, professional fee claims and other priority claims shall be paid in full in cash.

Other secured claims shall either be paid in cash or delivered collateral securing such claim. General unsecured claims and subordinated claims shall receive pro rata share of shares in liquidating interest. Intercompany claims, intercompany interests and interests in orbital shall be cancelled without distribution.

The plan shall be funded from available cash and sale of assets.