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Welcome to the Information Website of the Ombudsman for the Reorganized School Specialty Inc., et al.
On May 23, 2013, the Bankruptcy Court entered an Order confirming the Debtors' Amended Joint Plan of Reorganization (the "Plan"). Click here for link to the Plan. The Plan became effective on June 11, 2013 (the "Effective Date"). Pursuant to the Plan and the Fifth Amended Supplement to the Plan (the "Ombudsman Plan Supplement"), the Ombudsman was appointed as of the Effective Date.
The Ombudsman’s Role:
Generally, the Ombudsman’s role is that of an advocate for trade creditors with regard to the trade election process, and an advocate for creditors in Class 5 (General Unsecured Claims) and Class 6 (Trade Unsecured Claims) with regard to Plan distribution issues. The Ombudsman’s role is described in Article V.I.4 of the Plan and in more detail in the Ombudsman Plan Supplement, but has three primary components. The Ombudsman (who was selected by the Creditors Committee) is authorized to:
(i) Monitor Trade Elections and work to resolve any disputes about Customary Trade Terms between holders of Allowed Class 6 Claims who have made Trade Elections and the Reorganized Debtors;
(ii) Notify holders of Allowed Class 5 and Allowed Class 6 Claims of any event that would, per the Plan, alter the anticipated date for Distributions to holders of Allowed Class 5 and Allowed Class 6 Claims, upon being notified of such event by the Reorganized Debtors; and
(iii) Generally monitor the Reorganized Debtors’ compliance with the provisions of Article V.I of the Plan regarding treatment of holders of Allowed Class 5 and Allowed Class 6 Claims.
Please click here to view the Ombudsman's School Specialty Update dated February 7, 2017.
Please click here to view the Ombudsman's School Specialty Update dated June 3, 2016.
Please click here to view the Ombudsman's School Specialty Update dated June 11, 2015.
As of July 15, 2015, the Ombudsman has confirmed with the Company that the claims objection process has been completed, and that the amounts of Allowed Claims are:
-Class 5 (General Unsecured Claims) entitled to 20% distribution: $8,987,173.28
-Class 6 (Trade Claims) entitled to 20% distribution (no trade election or no agreement re trade terms): $8,701,382.15
-Class 6 (Trade Claims) entitled to 45% distribution (trade election and agreement re trade terms): $25,792,079.74
The Company further advises the Ombudsman that there has been no Change of Control at the Company. The anticipated date of distributions to holders of Allowed Class 5 and Class 6 Claims is therefore unchanged, and remains mid-December of 2019.
KCC maintains this website at the direction of Alan Halperin, the Ombudsman appointed for the Reorganized Debtors. KCC maintains this website for the public's convenience and, while KCC and the Ombudsman make every attempt to ensure the accuracy of the information contained herein, this website is not the website of the United States Bankruptcy Court and does not contain the complete, official record of the Bankruptcy Court. All documents filed with the Court are available for inspection at the Clerk of the U.S. Bankruptcy Court for the District of Delaware.