On December 29, 2017, SunEdison Inc. ("SunEdison" or the "Company") and its debtor affiliates, announced that its Plan of Reorganization (the "Plan") became effective and that the Company has emerged from Chapter 11 as a newly reorganized, privately held company. As previously announced, the Bankruptcy Court for the Southern District of New York confirmed the Plan on July 28, 2017. Pursuant to the Plan, the SunEdison existing common stock has been cancelled on December 29, 2017. Common stockholders will receive no distribution and will not retain any property under SunEdison's Plan.
Following over $2.3 billion of gross asset sales throughout its chapter 11 cases, SunEdison emerges with a significantly smaller footprint and will continue to focus on monetizing its remaining assets. Richard Katz will serve as Chairman and Chief Executive Officer of the reorganized SunEdison.
Pursuant to the Plan, the SunEdison GUC/Litigation Trust was formed for the benefit of allowed general unsecured claimants and second lien claimants. The purpose of the trust is to marshal the trust's assets, administer and reconcile claims, prosecute and settle litigation claims and make distributions to allowed claimants. All documents and information relating to the SunEdison GUC/Litigation Trust can be accessed by clicking this link: SunEdison GUC/Litigation Trust Website.