Acorda Therapeutics, Inc. filed a plan of liquidation with related disclosure statement in the US Bankruptcy Court on May 10, 2024. As per the plan filed, administrative expense claims, fee claims, priority tax claims, other priority claims, DIP facility claims, Adequate Protection Super priority Claims, Restructuring Expenses and Biotie Claims shall be paid in full in cash. Subordinated Claims shall be cancelled.

Prepetition Notes Secured Claims of $171.14 million shall be recovered 64% in cash and other secured claims shall be paid in full in cash. General Unsecured Claims shall $11.40 million shall be recovered 7% in cash. Intercompany Claims shall be cancelled.

Existing Subsidiary Debtor Interests shall be reinstated and existing Acorda interests shall be cancelled. The plan shall be funded through cash in hand and sale of assets.