16 Mar 2020 07:00
16 March 2020
RDL Realisation Plc
("RDL" or the "Company")
Princeton Update
On Friday 13 March 2020, the United States Bankruptcy Court entered an Order confirming the Fifth Amended Chapter 11 Plan proposed by the Chapter 11 Trustee in the Princeton Alternative Income Fund bankruptcy case. The Plan was negotiated with the Trustee and other parties-in-interest in the bankruptcy case and was actively supported by RDL. The confirmed Plan provides for the distribution of cash to RDL of $13,483,500 on the Effective Date of the Plan. The Effective Date of the Plan will occur on or before 30 March 2020, pursuant to the terms of the Confirmed Plan. Upon the Effective Date of the Plan, all outstanding litigation related to the Princeton Fund will be resolved, the bankruptcy case will be closed and RDL will obtain a full release of all claims against it by the Princeton Fund, its general partner, MicroBilt and its related entities and all other investors in the Princeton fund.
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) 596/2014.
For further information, please contact:
Link Company Matters Limited
Secretary +44 (0)1392 477571