Armory Securities confirmed the debtors Chapter 11 plan of reorganization for Millenkamp Cattle. Armory Securities served as the exclusive financial advisor to the Official Committee of Unsecured Creditors in the Idaho Chapter 11 bankruptcy case.
Armory served as exclusive financial advisor to the Official Committee of Unsecured Creditors throughout the restructuring process, supporting the development and confirmation of a consensual plan of reorganization for the company’s nearly $400 million in debt.
Armory’s restructuring advisory and food and agribusiness industry teams served as financial advisor to the committee and its legal counsel through the restructuring including diligence of the debtor’s operations and monitoring weekly performance relative to the debtor’s DIP budget, and coordinating communications with other creditors and analysis of various plan treatments on behalf of the committee.
The plan confirmation’s effective date is Aug. 15, 2025. A convenience class of GUC claims were paid in cash and $28M of GUC claims will receive quarterly interest payments at a 7% cash interest rate with principal repayment after 35 months. As such, general unsecured creditors were able to achieve a high recovery, with additional structure in place with incentives for early payoff of the GUC claims through a global refinancing of the reorganized debtors.
