Twin Hospitality Group Inc. 8K

The bankruptcy court approved a global settlement and related funding and distribution framework that will govern FAT Brands Inc.’s Chapter 11 plan, credit-bid asset sales, dismissal of key litigation, and the creation and payout waterfall of a post-emergence liquidation trust.

FAT Brands Inc. and its affiliated debtors, which are in Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas, obtained a court order on May 19, 2026 approving a comprehensive global settlement embodied in a May 18, 2026 settlement term sheet among the Debtors, the WBS Ad Hoc Group, the Resid Noteholders, and the Official Committee of Unsecured Creditors, authorizing the Debtors to enter into and perform under that settlement, committing the WBS Ad Hoc Group’s acquisition vehicles (NewCos) to provide at least $9.23 million of additional funding into a segregated plan funding account to finance the wind-down and a liquidation trust, establishing the structure and waterfall for distributions from the liquidation trust (including repayment of NewCo funding claims and recoveries to general unsecured creditors, Resid Noteholders, and Prepetition Noteholders), resolving and dismissing with prejudice specified adversary proceedings and objections upon closing of credit-bid sales of substantially all assets, and requiring the Debtors to file a Chapter 11 plan by May 22, 2026 that incorporates these settlement terms and related milestones for disclosure, confirmation, and emergence.

Filing Facts

CIK

2011954

Ticker

-

Form

8K

Source Type

sec

Accession

0001493152-26-027218

Alert Tier

8