.

'

' (q

UM TED STATES DISTRICT COURT

SOUTHERN DISTRJCT OFFLORIDA

CaseNo.20-cv-23230-AM C

ANGELA M ILNER,etal.,

FILED BY D,c.

luaintiffs, 0gT2g2223

V. ttk/tutl.llk.gz jtn,oFPLA..MIA;I .

TERIGALARDI,

Defendant

NOTICE OF BANK RUPTCY

COMESNOW ThomasT.McclendonasLiquidatingTrustee(thet iquidatinaTnzstee'')

oftheGalardiCreditorTnlst(thet iquidatingTnlsf'landhereby notifiestheCourtofthe

7

continuingautomaticstayandplaninjundionrelktedtothebnknlptcyofbankmptcyofTeriG.

;

Galardi(1çMs.Galardi'l.Ms.GalardiisthedebtoiinthecaseInreGalardi,Chapter11CaseNo.

r

22-500354P5(Bankr.M.D.Ga.,filedJanuary1i,2022)(theltBanknmtcvCase'').Ms.Galardiis

r ''''' ''' .

aDefendantinthisaction.TheBanknlptcy Casecreatedanautom aticstaypursuantto 11U.S.C.

: .

j362(a). rl

ForpurposesofprovidingtheCourtwithirthercontext,onApdl14,2023,theBanknlptcy

(

Co l

urtfor the Middle District of Georgia rntered an Order Confrming JointPlan of I

l ,, u j

Reorganization (DocketNo.410)(the RPIM Confirmation Order),w cj. cousnued Ms.

;

G !

alardi'sdplenAtflojnfChapter11PlanofReoqganizationoflkriG.GalardiandtheCommittee

ofunsecuredCreditors(DocketNo.401)(thetTlan'').

ThePlan Confirm ation Orderordered thatal1provisionsofthePlan Gçshallbind Debtor,

entitiesreceivingpropertytmderthePlan,andcreditorswhetherornottheclaimsofsuchcreditors

areimpairedtmderthePlanandwhetherornotsuch creditorshaveacceptedtheP1an.''SeePlan

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 1 of 89
Cov rm ation Orderatpg.6.A trueandcorrectcopy ofthePlanConsrmation Orderisappended

l

heretoasExhibit<EA.'' I

ThePlanConfirmationOrderprovidedthatnotwithstandingBnnknlptcyCodej1141(b),

Debtor'sassetsto becontributed to the Liquidating Trust,asdescribed in the Plan,including

Section 3.2.8.and4.3ofthePlan,shallvestintheLiquidatingTnzst,tmdertheexclusivecontrol

oftheLiquidatingTrustee9eeand clearofany lien,exceptforthelienofPowerFinancialCredit

Union on 18511RoyalHnm mock Boulevard shallbetreated asprovided fortmderthePlan.''

(emphasisadded).

ThePlan,inturn,establishedtheLiquidatingTnlstandappointedtheLiquidatingTnzstee.

Section 9.1 ofthePlan,entitled Gtcontinuing Judsdiction'',reserved thejtlrisdiction ofthe

BanknmtcyCourtfortheMiddleDistdctofGeorgia(thetlBankrlzptcvCoulf'ltoexclusivelyhear

a11 disputes concerning the Liquidating Trust and any claims or asserted entitlem ents to

diskibutionsfrom thatLiqtlidatingTrust.A tnzekndcorrectcopyofthePlanisappendedhereto

l

asExhibitd$B.''

Additionally,Section 8.5ofthePlan expresslypreservedtheautomaticstay of11U.S.C.

l

j362tmtilsuchdateasafmaldecreehasbeenettered.Section8.5providesasfollows:

8.5ContinuationofPre-cov rmationInitmctionorStays.

A1linjtmctionsorstays,whetherbyoperationof1aw orbyorderoftheBanknzptcy

Court,providedforintheBnnknlptcyCysepursuanttoSections105,362,or525

oftheBanknlptcyCodeorotherwisethatiareineffectontheConfirmationDateor

imposedby theConfrmation Ordershallremain in ftzllforceandeffecttmtilthe

FinalDecree.

N ofmaldecreehasyetbeenenteredin theunderlyingBanknlptcy Case.

2

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 2 of 89
ThePlan incorporatestheterm softheLiquidating TrustAgreem ent,wllich in pertinent

!

partprovidesforthefollowing:

Continuation oftheAutom aticStay.Infurtheranceoftheimplem entationofthe

Plan,exceptasotherwiseprovidedinthePlan,a1injtmctionsorstaysprovidedfor

intheBanknzptcyCase,pm suantto Sections105,362,or1141oftheBanknzptcy

Code,orotherwise,andin existenceontheConfirm ationDate,shallremaininfull

forceandeffectandapply toa11creditorsandBeneficiariesholding claimsagainst

theDebtor,theDebtor'sEstates,theTrustAssets,theLiquidatingTrustee,andthe

CreditorsTrtlstuntiltheFinalDistributionDate.

LiquidatingTrustAgreement!2.8.

A trueand correctcopy oftheLiquidatingTrustAgreementisappended heretoasExhibitd$C''.

Assuch,theautom aticstay rem ainsineffectintheBankruptcy CaseastotheLiquidatingTrust

andLiquidatingTnzstee.

Finally,theBankrnptcy Courthassetabriehng scheduleon whethertheautomaticstay

hasbeen violated in the attemptto collectfrom ?korencllm.ber,the Liquidating Trustand orits

l

assets. I

1

Respedfully subm ittedthis19th dayofOctober,2023.

LN UIDATG GTRUSTEE

T $,v

By:ThomasT.M cclendon

699Piedm ontAvenue,N E

Atlanta,Georgia30308

(404)564-9300

tmcclendon@q'oneswalden.com

LiquidatingTnlsteeoftheGalardiCreditorTrust

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 3 of 89
yExhibtûA'

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 4 of 89
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w,auox

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SIGNEDthis14dayofApril,2023. J w .i''q ,y)gl.+

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Jam es P.5m 1th

United States Bankruptcy Judge

!

UNITED STATESBANKRUPTCY COURT

M DDLE DISTRICT OF GEORGIA

M ACON DW ISION

!

In re : I CH APTER 11

:

TERIG.GALARDI, : CASE NO.22-50035-* 5

:

D ebtor. : ' JudgeJam esP.Sm ith

: 1

i

ORDERCONFIRMINGJOINTPLANOFREORGANIZATION

!

Theabove-captionedbankruptcycasecamè, beforetheCourtforhearingApril11,2023,at

l

11:00am (theSsconlirmationHearing'')toconsiderapprovaloftheDisclosureStatementand

confirmationofthePlan.

OnFebruary 16,2023,TeriG.Galardi(thetDebtor'')andtheOfficialCommiteeof

UnsecuredCreditors(the(lcommittee'')filedtheirl/ïn/Chapter11PlanofReorganization(Doc.

No.299)whichwasamendedonApril10,2023,pursuanttotheAmendedlointChapter11Plan

ofReorganization(Doc.No.401)(asamendedormodified,the1ûPIan'').Also,onFebruary16,

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l

!

2023,DebtorandtheCommitteefiledtheirJointDisclostlreStatementforJointChapter11Plan l

ofReorganization(Doc.No.300).

OnJanuary 12,2023,theCourtenteredanOrderEstablishing (1)DeadlineforFiling

Objectionsto theDisclosureStatementand Plan,(2)Deadlinefor Voting on Plan and (3)

SchedulingCombinedHearingonApprovalofDisclosureStatementandConhrmationofplan

(Doc.No.309)(theGçsolicitation Order'').TheSolicitationOrdersetadeadlineofM arch31,

2023forcreditorsandpartiesininterestto(i)objecttotheDisclosureStatementorPlanand(ii)

tile ballots to eitheracceptor rejectthe plan.The Solicitation Orderalso scheduled the

ConfirmationHearing.TheConfirmationHearingcommencedonApril11,2023at11:00a.m .

OnFebruary21,2023,AgSouthFarm Crè1dit,ACA filedanobjectiontotheDisclosure

r

StatementapdthePlan(Doc.No.303)(thetûA.gSouthObjection'').

OnMarch13,20239theGeorgiaDepa/mentofRevenuefiledalimitedobjectiontothe

Plan(Doc.''No.321)(theSCGADOR Objection''). .

OnMarch28,2023,W ellsFargoBank,N.A.filedanobjectiontothePlan(Doc.No.377)

(theCcW ellsFargoObjection'').

OnM arch 31,2023,PowerFinancialCreditUnion tiled açscautionary andPreliminary

ObjectiontoConfirmation.''(Doc.No.387)(thetlpowerFinancialObjection'').

OnApril3,2023,JosephGuernseydbaRedShieldFundingfiledanobjectiontothePlan

'(Doc.No.393)(theC'RedShieldFundingObjection').SuchobjectionwasaftertheMarch31,

2023deadlineasprovidedbytheSolicitationOrder.

AttheConfirmationHearing,ChristopherW .TerryandLouisG.M cBryanappearedon

behalfof Debtor.TeriG.Galardi,as the Debtor,appeared.Leon S.Jones and ThomasT.

M cclendon appeared on behalf ofthe Comm ittee.M utepe Akemon appeared as committee

2

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!

memberby proxy.Elizabeth Hardy appeared on b'ehalfoftheUnited StatesTrustee.Christina

!

LanierappearedonbehalfofthelnternalRevenueService.Jim SilverappearedonbehalfofPower

FinancialCreditUnion.

Atthe Confirmation Hearing,Debtorand Comm itteeannounced thatthey had reached

resolutionoftheAgSouthObjection,theWelsFargoObjection,andtheGADOR Objection

pursuanttotheAmendedJointPlanofReorganikation (Doc.No.401).ThePowerFinancial

Objectionwasoverruledbythefiling oftheAmendedJointPlanofReorganization.TheRed

ShieldFundingObjectionwasoverruledbecauseitwasuntimely,nooneappearedtoprosecute

theobjection,andtheobjectionsraisedthereinlackedmerit.

TheCourthastakenjudicialnoticeoftherntirerecordinthiscaseincludingallproofsof

Claim .

TheCourthasconsideredtheentirerecordattheConfrmationHearingincludingbutnot

limitedtothePlan,BallotReport(asdefined below),argumentofcounselandtheevidence

profferedattheConfirmationHearing.Accordingly,theCourthasdetermined:

(a) DebtorandCommitteetimelyandproperly:(i)filedthePlan(ii)solicitedthePlan;

and(iii)providedduenoticeoftheConfirmationHearingtoHoldersofClaimsandInterests

r

againstDebtorandpartiesininterest,allincompliancewiththeBankruptcy Code,LocalRules,

andSolicitationOrder.

(b) DebtorandCommhteefiledtheBallotCert@cationandsummaryoftheVotingon

Debtor'sPlanofReorganizationasModfedorAmended(theçlBallotReport'')(Doc.No.399)

describingtheresultsofvotingwithrespecttothePlan.AsannouncedattheConfirmationhearing,

Classes2,6and8votedtoacceptthePlanasaClass.

3

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ThenoticeprovidedregardingtheèonfirmationHearingandopportunityforany (

'

partyininteresttoobjecttoconfirmationofthePlanhavebeenadequateandappropriateandno

furthernoticewasrequired.

(d) TheIegalandfactualbasessetforthattheConfirmationHearingandintheentire

recordinthisCaseestablishjustcauseforthereliefgrantedattheConfirmationHearing.

(e) Aûerduedeliberationandgoodandsufficientcauseappearingtherefore,andbased

upontheCourt'sacceptanceoftheunopposedevidçntiaryprofferoftestimonyandevidencemade

attheConfirmationHearing,andfurtherbasedupontheentirerecordinthiscaseandtheCourt's

tindingsoffactandconclusionsoflaw madeontherecordattheConfinnationHearingwhichare

adoptedhereinpursuanttoFederalRulesofBankruptcyProcedure7052and9014,thePlanshould

beconfirmed,andfurtherbaseduponthefollowingdeterminationsbytheCourt:

TheCourthasjurisdictionoverthijChapter11CaseandconfirmationofthePlan

pursuantto28U.S.C.û1334.Confirmationofthe!lplanisacoreproceedingpursuantto28U.S.C.

j157(b)(2)(A) 1

, (L),and(0),andtheCourthasyurisdictiontoenterafinalorderwithrespect

p!

thereto.Debtoriseligibletobeadebtorunderjtl09oftheBankruptcyCode.Venueisproper

r

beforetheCourtpursuantto28U.S.C.jj1408. ali:d1409.

I

TheDisclosureStatementcontaink'sadequateinformation''withinthemeaningof

j1125 I

oftheBankruptcyCode,andnofurtherinformationisnecessary.

l

FollowingentryoftheSolicitationOrder,incompliancewiththeBankruptcyCode

andtheBankruptcyRules,asevidencedbyCertificatesofService(Doc.Nos.310and311),Debtor

andCommitteeeffectuatedfilingandserviceonaIlCreditors,HoldersofClaim sandlnterestsand

partiesin interestofthe Solicitation Ordercontaining notice ofthe Confirmation Hearing and

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relevantdeadlinesandabalotforvotingontheflan,thePlan,theDisclosureStatement,and

p

'

r

modificationsoramendmentstothePlan(collectivçlythetsolicitationM aterials').

4. AsdescribedintheSolicitationOrderandCertificatesofService:(a)serviceofthe

SolicitationM aterialswasadequateandsufficientunderthecircumstancesand(b)adequateand

sufficientnoticeofthe Confirmation Hearing and otherrequirements,deadlines,hearings,and

mattersdescribedintheSolicitationOrder:(i)wasilimelyandproperlyprovided;and(ii)provided

dueprocessand opportunity to appearand be hqard to allpartiesin interest. Because ofthe

l

foregoingtransm ittals,noticeand servicewereadequateand sufficient,andno otherorfurther

!

!.

noticeisnecessaryorshallberequired. I

I

TheDebtor,Committee,andtheirattorneyshavesolicitedvotesonthePlaningood

r

faithandincompliancewithapplicableprovisions!oftheBankruptcyCodeandareentitledtothe

protectionsaffordedbyj1125(e)oftheBankruptcyCode. 2

. 6 2

. AsevidencedbytheBalotReportpandsubmissionsattheConfirmationHearing,

threeimpairedclassesofclaims(determinedwithoutincludinganyacceptancebyaninsiderof

Debtor)votedtoacceptthePlan.Specifically,Class2,theSecuredClaim ofAgSouthACA,Class

1

6,the Secured Claim ofthe lnternalRevenue Service,and Class 8,the GeneralUnsecured

iCreditors,votetoacceptthePlan.NotallClassesofthePlanvotedtoacceptthePlan.Therefore,

theDebtorandCommitteewererequiredtoestablish,and theCourtso Gnds,thatPlansatisfies

therequirementsof11U.S.C 1129(b)withrespecttosuchnon-acceptingclasses.

AsevidencedbytheBallotReportand submissionsattheConfirmationHearing,

theimpairedclassesofclaimseither:(a)votedtoacceptthePlanor(b)theirtreatmentunderthe

PlansatisfiestherequirementsoftheBankruptcyCode,includingj1129(b).

8. ThePlan'sprovisionsareappropriateandconsistentwiththeapplicableprovisions

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oftheBankruptcyCode,includingwithoutlimitationthetreatmentofunsecuredclaims,priority

I

claimsandsecuredclaims,andcounterpartiesunde)executol'ycontracts.

Accordingly,itishereby '

ORDERED thattheforegoingdeterm inationsincludingthoseenumeratedinParagraphs

1through8aboveareherebyincorporatedintothisConfirmationOrderasiffullysetforthherein.

ltisfurther

ORDERED thatthePowerFinancialObjectionisoverruledbytheGlingoftheAmended

JointPlanofReorganization(Doc.No.401).

ORDERED thattheRedShieldFundingObjectionisoverruledinitsentiretyasuntimely

filed and furtherasbased on theCourt'sfindingsasstated on therecord attheConfirm ation

Hearing.ltisfurther

ORDERED thatthePlanisconfrmedpursuantto11U.S.C.jl129.Allprovisionsofthe

' PlanshallbindDebtor,entitiesreceivingpropertyunderthePlan,andcreditorswhetherornotthe

. J

claimsofsuchcreditorsareimpairedunderthe;Planandwhetherornotsuchcreditorshave

acceptedthePlan.Itisfurther

ORDERED thatupontheEffectiveDate,theOfficialCommitteeofUnsecuredCreditors

shallbedissolvedandofnofurtherforceandeffective;however,notwithstandingsuchdissolution,

theCommitteeanditsProfessionalsshallbeentitledtoapplyforapprovalbytheBankruptcyCourt

oftheirFeeClaimsandanyotheramountsrequestedforpaymentbytheDebtorrftertheEffective

Date.Itisfurther

ORDERED thatnotwithstanding Bankruptcy Code j 1141(b),Debtor'sassetsto be

contributedtotheLiquidatingTrust,asdescribedinthePlan,includingSections3.2.8and4.3of

thePlan,shallvestintheLiquidatingTrust,undertheexclusivecontroloftheLiquidatingTrustee

6

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freeandclearofanylien,exceptforthelienofPgwerFinancialCreditUnionon 18511Royal

J

HammockBoulevardshallbetreatedasprovidedfprunderthePlan,andincludingbutnotlimited

topropertytaxesthroughthedateofthetransferofsuchpropertytotheLiquidatingTrust,which

Debtorshallsatisfyorotherwiseprovidefor.ltisfurther

ORDERED that,as ofthe Effective Daje,Thomas M cclendon is approved and

appointedasLiquidating TnlsteeoftheGalardiCreditorsTrustandisauthorizedtoexecutethe

GalardiCreditorsTrustAgreementonorbeforetheEffectiveDateofthePlan.Itisfurther

l

ORDERED thatanyobjectiontoaproofofclaim classifiedinaclassotherthanClass8,

shallbefiledbytheDebtoronorbeforetheoneh'undredandtwentiethda#(120th)dayafterthe r

EffectiveDate,orsuchlaterdeadlineforobjectiohltoclaimsasmaybefixedbyanorderofthis

Bank l

ruptcyCourtuponmotionbytheDebtorpriortosuchdeadline.ltisfurther

lfclaim classifiedinClass8

ORDERED thatanyobjectiontoaproofpo , shallbefiledby

theLiquidatingTrusteeonorbeforetheonehupdredandtwentiethday (120th)day afterthe

i EffectiveDate,orsuchlaterdeadlineforobjectiontoclaimsasmaybefixedbyanorderofthis

I ;

l

Bankruptcy CourtuponmotionbytheLiquidatingrTrusteepriortosuchdeadline

. Itisfurther

olto>m 'lim thatthisoràershal

commencingorcontinuing any action,

t

actasà, permanentinjunctionagainstanyPerson:(a)

r

'

(b)emplg1yinganyprocess, or(c)anyactingtocollect,

;

offset,orrecoveranyClaim exceptasprovidedforinthePlanagainst:(l)Debtor,(2)againstany

property ofDebtor,(3)theGalardiCreditorsTrust,or(4)property conveyedtotheGalardi

Creditor'sTrust.SuchinjunctionshallsurvivetheclosureofthisbankruptcycaseandthisCourt

shallretainjurisdictiontoenforcesuchinjunction.ltisfurther

ORDERED thatnotwithstanding anytbingto thecontrary inthePlan,thisCourtretains

jurisdictioninthiscase:(a)forthepurposessetforthinthePlanandtointerpretandenforcethe

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Plan,any attachments to the Plan,including butnotlim ited to the GalardiCreditors Trust

l

!

. Agreement,andthisOrder,and(b)toresolveanydisputesregardingthesame,includingclaim

objectionswhetherbroughtasacontestedmatteroradversaryproceeding.ltisfurther

ORDERED that,counselforDebtorshallservethisOrderonallcreditorsandparties-ininterestlisted on themailing matrix in thiscaseviaECF orU.S.M ailand fileacertificateof

servicewithinthree(3)daysoftheentryofthisOrder.

IEndofOrder)

Consentedtoby: PreparedandPresentedBy..

BOYER TERRY LLC JUNES& W ALDEN LLC

/s/ChristopherFcrrv /s/Thomasr M cclendon

ChristopherTen'y Thom asT.M cclendon

GeorgiaBarNo.702484 GeorgiaBarNo.431452

348CottonAvenue,Suite200 699PiedmontAvenueNE

Macon,Georgia31201 Atlànta,Georgia30308

(487)742-6481 ' (404)564-9300

chris@boyerteny.com tmlclendon@'loneswalden.com

AtorneyforDebtor Counselforèommittee

8

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 12 of 89
Exhibit1:4g55

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In re

TER IG .GA LAR DI,

D ebtor. :

UNITEDSTATESBANV UPTCYCOURT

M IDDLE DISTRICT OF GEORGIA

M ACON DIVISION

CHAPTER H

CASE NO.22-50035-.1P5

JudgeJam esP.Sm ith

AM ENDED JOINT CHAPTER 11PLAN OFREORGANIZATION OF

TERIG.GALARDIAND THE COM M ITTEE OF UNSECURED CREDITORS

April10,2023

Filed by:

LouisG.M cBryan

M CBRYAN,LLC

6849PeachtreeDunwoodyRoad

BuildingB-3,Suite100

Atlanta,Georgia30328

(678)733-9322

lmcbrvan@mcbryanlaw.com

CounselforDebtor

ChristopherW .Terry

BOYER TERRY LLC

348CottonAvenue,Suite200

M acon,Georgia31201

(478)742-6481

chris@ bovertery.com

CounselforDebtor

LeonS.Jones

ThomasT.M cclendon

699PiedmontAveNE

Atlanta,Georgia30303

(404)564-9300

liones@ioneswalden.com

tmcclendon@l'oneswalden.com

CounselfortheCommittee '

ofUnsecuredCreditors

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j '

INTRODUCTION AND SUM M ARY OF PLAN I

OnJanuary12,2022,TeriG.Galardi(referredtohereinasthelr ebtor'')filedfor

Chapter11bankruptcyprotectioninitiatingtheabove-styledcasewhichremainspenjinginthe

UnitedStatesBankruptcyCourtfortheM iddleDistrictofGeorgia,M aconDivision,CaseNo.

22-50035-.1P5(theçBanlcruptcvCase'').TheOfficialCommitteeofUnsecuredCreditors(the

tcommittee'')wasappointedbytheUnitedStatesTrusteeonApril28,2022,andconsistsofthe '

followingmembers:(a)ShadanaDeleston,c/oMutepeAkemon,Esq.,asProxyHolder;(b)

AbreyLeahongc/oMutepeAkemon,Esq.,asProxyHolder;(c)AddieBrooksc/oAinsworth

Dudley,Esq.,asProxyHolder.

1

ContemporaneouslywiththetilingofthisPlan,DebtorandCommitteefiledandserveda

JointDisclosureStatement,asrequiredbySection1125oftheBankruptcyCode.The

DisclosureStatementcontainsadetailedhistoryoltheDebtor,financi'alinformationregarding

theDebtor'sassetsandliabilities,andasolicitatiopforacceptanceofthisPlan.

TheDebtorandCommitteeherebysubmitsthisAmendedJointPlanofReorganization

(the1Tlan'')resolvingalloutstandingobjectionstoconfirmationanduponthebeliefthat

creditorswillrealizemoreandreceivedistributionsquickerunderthisPlanthanifDebtor's

assetsareliquidatedunderChapter7oftheBankruptcyCodeoranyotherliquidatingplan.The

Debtorproposestopayhercreditorsthroughincomegeneratedbythecontinuedoperationofher

business,thesaleofcertainassets,andthetransferofassetsandcapitaltotheGalardiCreditors .

Trust,al1asdescribedinm oredetailhereinbelow.n ePlandealswithallpropertyofthe

Debtorlandprovidesfortreatm entofa1lclaimsagainsttheDebtorandherproperty.

YhisPlanprovidesforone(l)classofnon-taxpriorityclaims,six(6)classesofsecured

claims,andthree(3)classesofunsecuredclaims.Holdersofallowedadministrativeandpriority

claim sshallreceivepaymentinfullontheEffectiveDateofthePlanor,withrespecttoaclaim

ofakindspecifiedinj507(a)(8)(taxclaims),regplarinstallmentpaymentsasprovidedunder11

U.S.C.j1129(a)(9).HoldersofAllowedSecureéClaimsshallreceivepaymentinfulloftheir

claimsthroughregularinstallmentpaymentsorthroughdistributionofthenetproceedsfrom the

saleoftheirrespectivecollateral.HoldersofAllqwedUnsecuredClaimsinClass8shallreceive

paymentofagproximately40% oftheirclaimsthroughapro-ratadistributionofassetsconveyed

totheGalardlCreditorsTrustwhichwilbeadmiristeredbyaliquidatingtrustee.Holdersof

AllowedUnsecuredClaim sinClass5shallreceiyereaffinmationofthepersonalguaranties

executedbytheDebtorwhichsecureloanstothird-partyentitiescontrolledbytheDebtor.

HoldersofAllowedUnsecuredClaimsinClass9shallreceivepaymentofapproxim ately40% of

theirclaimsthroughmonthlyinstallmentpayments.A sum maryoftheClassesofClaims,

lForpurposesofthePlan,allpropertyheldbytheTeriG.GalardiSeparatePropertyTrustu/a/d

9-27-06(thetseparatePropertyTrust'')istreatedaspropertyoftheDebtorandincludedinthe

Debtor'sbankruptcyestateandDebtorandtheSeparatePropertyTrustshallbesubstantively

consolidatedunderthisPlan.AdetaileddescriptionoftheprojertyownedbytheDebtor,but

heldintheSeparatePropertyTrust,isincluded intheLiquidatlonAnalysisattachedtothe

Disclostlre Statem ent.

2

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j '

includingthetreatmentofsuchclassesandtheestilpatedpaymentstobemadeunderthePlanis

attachedheretoaspartofExhibitû$A'' '

'

Thi . ! sPlanistheresuftofnegotiationsbetwqenDebtorandtheCommittee,asassistedby

theHon.MaryGraceDiehl(Ret.),atmediationonjanuary9,2023.TheDebtorandCommitee

believethisPlanprovidesthebestrecoveryforcreplitors, balancingtheamountultimatelytobe

paidtocreditorswiththepromptnessofsuchpaym ents.

TheDebtorbelievesthatanyliquidatingplan,includingthatpreviouslyproposedbythe

Committee,willeliminatethegoingconcernvalueoftheDebtor'sbusiness.TheDebtorowns

andoperatesseveraladultentertainmentestablishlpentsinGeorgiawhichrequiretruelicensesto

operateandsellalcoholicbeverages.TheseIicensésarenottransferrablepropertyrights.The

principaloftheentityowningtheestablishment,ajwelastheentityoperatingtheestablishment,

mustbeapprovedbytheStateofGeorgia.ThestateIicensesissuedinGeorgiaarenot

intangiblestobesold.TheDebtorbelievesthatIiquidation,whetherunderaliquidatingplanor

throughaChapter7banlcruptcy,wouldforcethebebtor'sadultentertainmentestablishmentsto

!

ceaseoperationsandseverelylimitthevalueavailyblefordistributiontocreditors.The

CommitteedisagreesthatliquidationwouldforcetheDebtor'sbusinessestoclose,butagrees

withtheDebtorthatthisPlanprovidesforthemosteffectiverecoverytocreditors.

TheclassesofclaimsandmethodofpaymçntunderthePlanmaybesumm arizedas

follows: f

1. Class1-Nqn-rfaxPriorityClaims l PaidinfullontheEfectiveDate.

2. Clasà2-AgSouth ! Monthlylnstallmentsof$6,504.84

3. Class3-BusinessFirstBank I M onthlylnstallm entsof$ 11,574.60

4. Class4A - W ellsFargo M onthlyInstallm entsof$5,516.50

Class48 -W ellsFargo M onthlyInstallm entsof$2,061.17

5. Class5-PowerFinancial ReaffirmationofGuaranty

6. Class6-InternalRevenueService : Annuallnstallmentsof$ 1,755,146.75

7. Class7-Trop,lnc.Claimants r Paidinfu11throughsaleofJGP&P

8. Class8-UnsecuredClaim s ; GalardiCreditorTrustDisbursements

9.Class9-UnsecuredJackJr.Claims i Monthlylnstallmentsof$9,l60.37

10.Class10-RedShieldFunding J PendingPreferenceDetermination

r

. AllCreditorsshouldrefertoArticlesIlIapdV1ofthisPlanforinformationregardingthe

precisetreatmentoftheirclaims.A DisclosureStatementthatprovidesmoredetailed

informationregardingthisPlanandtherightsofCreditorshasbeencirculatedwiththisPlan.

Yourrightsm ay beaffected. You should read thesepaperscarefully and discussthem w ith

yourattorney.(Ifyoudonothaveanattorney,youmaywishtoconsultone-)

3

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!

l

ARTICLE l

DEFINEDTERMS,COMVUTATIONOFTIME,AND

RULESOF CONSTRUCTION

DefinedTerms.

AsusedinthePlanandintheaccompanyingDisclosureStatement,capitalizedtenns

havethemeaningssetforthonSchedule1attachedtothisPlan.Anyterm thatisnototherwise

definedherein,butthatisusedintheBankruptcyCodeortheFederalRulesofBankruptcy

Procedure,willhavethemeaninggiventothatterm intheBankruptcyCodeortheBankruptcy

Rules,asapplicable.

OtherDefinitionalProvisions.

(i) AccountincTerms.Accountingtel'mswhicharenototherwisedefinedinthis

Planhavethemeaningsgiventothem undertheBankruptcyCode,theIRC,theUniform

Comm ercialCode,orGAAP,inthatdescendingorderofpriority.Totheextentthatthe

definitionofanaccountingterm thatisdefinedinthisAgreementisinconsistentwiththe

meaningofsuchterm underGAAP,thedefinitionsetforthinthisPlanwillcontrol.

(ii) Construction.UnlessthecontextofthisPlanotherwiseclearlyrequires:(a)

wheneverfrom thecontextitisappropriate,eachtèrm,whetherstatedinthesingularorthe

plural,willincludeboththesingularandtheplura1;(b)referencestoanygenderincludethe

othergenders,(c)thewordsSEinclude,''(tincludes''andfçincluding''donotlimitthepreceding

termsorwordsandshallbedeemedtobefollowed, bythewordstwithoutlimitationy''(d)the

term Ztor''hastheinclusivemeaningrepresentedbythephraseSçand/or,''(e)thetermsEthereotl''

tûherein,''ithereunder,''lûhereto''andsim ilartermsinthisPlanrefertothisPlanandthe

accompanyingDisclosureStatementasawholean'dnottoanyparticularprovisionofthisPlan;

(9thetermstçday'?andidays''meanandrefertoJalendardayts);(g)thetermsSiyear''and

t l

years''meanandrefertocalendaryearts);(h)anyreferenceinthePlantoanexistingdocument

orexhibitFiledortobeFiledmeanssuchdocumentorexhibit,asitmayhavebeenormaybe

amended,modified,orsupplementedpursuanttothePlan;(i)anyreferencetoanyEntityasa

holderofaClaim includesthatEntity'ssuccessors,assigns,andaffiliates;(j)allreferencesinthe

PlantoSections,Articles,andExhibitsarereferencestoSections,Articles,andExhibitsoforto

thePlan;(k)thewordsûherein,''tçhereunder,''andCthereto''refertothePlaninitsentiretyrather

thantoaparticularportionofthePlan;(l)captionsandheadingstoArticlesandSectionsare

insertedforconvenienceofreferenceonlyandarenotintendedtobeapal4ofortoaffectthe

interpretationofthePlan;and(m)subjecttotheprovisionsofanycontract,articlesof

incorporation,codeofregulations,similarconstituentdocuments,instrument,release,orotler

àgreementordocumententeredintoinconnectionwiththePlan,therightsandobligations

arisingunderthePlanshallbegovernedby,andconstruedandenforced inaccordancewith,

federallaw,includingtheBankruptcyCodeandBankruptcyRules.AIIArticle, Section,Exhibit

andSchedulereferenceshereinaretoArticles,Sections,Exhibits,andSchedulesofthisPlan,

tlnlessotherwisespecifiedandtherulesofconstructionsetforthinSection 102ofthe

BankruptcyCodewillapply.

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(ii)ComputationofTime.lncomputingaàrygeriodoftimeprescribedoralowedby

thePlan,theprovisionsofBankruptcyRule9006(a)wlllapply.

ARTICLE 11

CLASSIFICATION OF CLAIM SAND INTERESTS

2.1 ClassificationGenerallv.

lnaccordancewithSection1123(a)(1)oftheBankruptcyCode,AdministrativeExpense

ClaimsandPriorityTaxClaimshavenotbeenclassified,and,thus,areexcludedfrom the

followingClasses,butwillbepaidasprovidedinthisPlan.A Claim orInterestisclassifiedina

particularClassonlytotheextentthattheClaim orInterestqualifieswithinthedescriptionof

thatClassandisclassifiedinotherClassestotheextentthattheremainderoftheClaim or

lpterestqualifieswithinthedescriptionofsuchotherClasses.NoClaim shallentitlea

CreditortoadistributionofCashortootherconsiderationpursuanttothisPlanunless,

andonlytotheextentthat,suchClaim isanAllowedClaim .

PlanClassification.

TheclassificationofClaim sagainsttheDebtorpursuanttothisPlanisasfollows:

Cl i

ass1. Non--raxPriorityClaims.Al1lallowedclaimsentitledtopriorityunderj

507oftheCode(exceptadpinistrativeexpenseclaimsunderj507(a)(2)

andprioritytaxclaimsundrrj507(a)(8)).Class1isnotimpaired.

Class2. SecuredClaim ofAgSouthtFarm CreditC1AgSouth'').Class2includes

theAllowedSecuredClaim ofAgSouthintheamountof$235,854.00

securedbythreeparcelsofi'ealpropertyinButsCounty,Georgia.Class

2isnotimpaired.

Class3.

Class4.

SecuredClaim ofBusinessFirstBank.Class3includestheAllowed

SecuredClaim ofBusinessFirstBankintheamountof$7l7,075.41

securedbytherealgropel'tylocatedat1837CorporateBoulevardNE,

Brookhaven,Georgla30329.Class3isnötimpaired.

SecuredClaimsofW ellsFargoBank(ûW ellsFargo'').

Class4A.Class4A includestheAllowedSecuredClaim ofW ellsFargo

intheamountof$502,384.28securedbytherealpropertylocatedat

15820SW 53CourqSouthwestRanches,Florida33331.Class4A isnot

impaired.

Class4B.Class48 includestheAllowedSecuredClaim ofW ellsFargo

intheamountof$549,647.41securedbytherealpropertylocatedat2146

Highway42South,ButtsCounty,Georgia.Class48 isnotimpaired.

5

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Class5.

. p

i

UnsecuredClaim ofPowerFjinancialCreditUnion(dspowerFinancial').

Class5includestheAllowedUnsecuredClaim ofPowerFinancialarising i

from thepersonalguarantyexecutedbytheDebtorinfavorofPower

Financialtosecurealoanfrom PowerFinancialtoJackE.Galardi,LLC

intheoriginalprincipalamountof$2,181,000.00.Class5isnotimpaired.

SecuredClaim ofInternalRevenueService($t1RS'').Class6includesthe

AllowedSecuredClaim oflnternalRevenueServiceintheapproximate

amountof$12,422,093.66forestatetaxliabilitiessecuredbyaCtspecial

lien''againstthegrossassetsoftheEstateofJackE.Galardi,Sr.Class6is

impaired.

SecuredClaimsofTrop,Inc.Claimants.Class7includestheAllowed

SecuredClaimsheldbycreditorsholdingclaimsagains'ttheDebtorfora

guarantyofdebtowedbyTrop,Inc.andsecuredbypropertyownedby

JGP&P,LLC.Class7isnotimpaired.

Class6.

Class7.

Class8.. UnsecuredClaimsofA1lUnsecuredClaimants,otherthantheJackE.

Galardi,Jr.,Sub-Tnlst.Class9includesa11AllowedUnsecuredClaims,

including(i)theIRS,(ii)théGDOR,(iii)thoseheldbycreditorsholdinga

judgmentorclaim againsttlieDebtorarisingfrom certainwage& hour

andfairlaborstandardsactiawsuits,and(iv)othergeneralunsecured

claim s,excludingtheunsecùredclaimsheldbytheJEG Fam ilyTrustJackE.Galardi,Jr.Sub-Trust.ThevalueoftheClass8claimsvaries,but

theajgfegateamountisapproximately$23,925,355.92.Class8is

impalred.

(zlass9. UnsecuredClaimsofJEG FamilyTrust-JackE.Galardi,Jr.Sub-Trust. .

Class9includestheAllowrldUnsecuredClaimsheldbyJackE. Galardi,

Jr.Sub-Trustarisingfrom qbligationsoftheDebtorinconnectionwith

adm inistrationoftheEstate'ofJackE.Galardi,Sr.intheapproximate

amountof$1,896,700.40.Class9isimpaired.

ContestedSecuredClaim ofRedShieldFunding,asAssigneeofAlexis

King.Class10consistsofacontestedsecuredclaim heldbyRedShield

Funding,asassigneeofAlexisKing(tlledShield'')(Claim No.110)(the

tloingClaim''),whichassertsaclaim of$468,446.62securedbyltpersonal

property''perfectedbyalt ienCertificate''recordedwithin90-daysofthe

PetitionDate.TheDebtorconteststhesecuredstatusoftheClass10

claim asanavoidablepreference.Classl0isimpaired.

Class10.

SubstantiveConsolidationofTeriG.GalardiandTeriG.GalardiSeoarate

PropertvTrustu/a/d9-27-06.asamendedandrestatedonFebrualw 9.2018.

TeriG.GalardiistheSettlor,Trustor,Trustee,andprimaryBeneficiaryoftherevokable

Trustknownasthet-fkriG.GalardiSeparatePropertyTrustu/a/d9-27-06''(thetseparate

6

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PropertyTrusf).Uponinformationandbelietlsuch;trustisarevocabletrust,asthetrustmaybe

amendedorrevokedatanytimebytheSettlor/-rrustee(TeriGalardi).TheTrustinstrument

specificallyprovidesthatitsspendthriftprovisionsdonotapplytoGalardi'sinterestintheTrust.

Assetsinarevocabletrustaresubjecttoclaimsofdebtor'screditors.O.C.G.A.j53-12-82(a)(1)

(Cr uringthelifetimeofthesettlor,thepropertyofarevocabletrustshallbesubjecttoclaimsof

thesetlor'screditors.');InreNichols,434B.R.906,909(Bankr.M .D.Fla.2010).

AsoftheEffectiveDate,theEstateandtheSeparatePropertyTrustshallbeconsolidated

andbeconsideredonePersonpursuantto11U.S.C.j1123(a)(5)(C)(tNotwithstandingany

otherwiseapylicablenon-bankruptcylaw,aplanshal...provideadequatemeansfortheplan's

implementatlon,suchas...mergerorconsolidationofthedebtorwithoneormoreperson-'').

ARTICLE I1I

TREATM ENT OF CLAIM SAND INTERESTS

3.0 Subjecttoa1lapplicableprovisionsofthisPlan,AllowedClaimswillbepaidor

otherwiseprovidedforunderthisPlanasfollows:,

3.1 UnclassifiedClaims.PursuanttoSectionl123(a)(l)oftheBankruptcyCode,

AdministrativeExpenseClaim sagainstDebtorarenotclassifiedforpurposesofvotingonthe

Plan.HoldersofsuchAdminstrativeExpenseClajmsarenotentitledtovoteonthisPlan.Al

suchAdminstrativeExpenseClaimsal'etreatedseperatelyassetforthhereinbelow andin

accordancewiththerequirementsofsetforthinSé1ction1129(a)(9)(A)oftheBankruptcyCode.

.

f

AdministrativeClaims. I

1

StatutorvFees:AlowedAdministrativeEkpenseClaimsforcostsofcourtandfees

Payablepursuantto28U.S.C.51930(U.S.TrustleFees),asdeterminedbytheBankruptcy

CourtattheConfirmationHearing 1

,shallbepaidirCash,inful,assuchfeesbecomedue.

à

FeeClaims:ProfessionalshavingAlowekAdministrativeFeeClaimsshallbepaidin

full k

, inCash,bytheDebtoron(i)theEffectiveD4te,(ii)uponsuchothertermsasmaybeagreed

uponbysuchholderandtheDebtor,or(iii)asoth1ienviseorderedbytheBankruptcyCourt,or,

withrespecttoanydisgutedFeeClaim,thedateuponwhichtheBankruptcyCourtorder

alowingsuchFeeClalmbecomesaFinalOrder.luponentl'yoftheConfirmationOrder,the

Debtorshallsetasideinescrow allunpaidamountsestimatedtobeowedtoProfessionalsforFee

ClaimsthroughtheEffectiveDate(lessamountspreviouslypaidorpaidonaninterim basisafter

Confinmation)pendingentryofaFinalOrderoneachsuchProfessionals'applicationfor

AllowanceofitsFeeClaim .AftertheEffectiveDate,ProfessionalsoftheDebtorshallbe

compensatedassetforthbelow inthisPlan.AnyAllowedFeeClailnsassociatedwiththis

Bankruptcy CaseshallnotbedischargedpursuanttothisPlan.

GeneralAdministrativeClaims:ExcepttotheextenttheholderofanAllowed

Adm inistrativeClaim agreestoother,lessertreatment,eachholderofanAllowedAdm inistrative

Claim shallbepaidinrespectofsuchAllowedClaim thefullamountthereof,inCash,bythe

Iaterof(i)theEffectiveDate,(ii)thedateonwhichsuchClaim becomesanAllowed

AdministrativeClaim,or(iii)asotherwiseorderedbytheBankrtlptcyCourt.

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BarDatesforOtherAdm inistrativeClaimrs.

!

(i) GeneralAdministrativeBarDatéProvisions.TheholderofanAdministrative

Claim otherthan(1)aFeeClaim,(2)aPost-petitionObligationipcurredandpayableinthe

ordinarycourseofbusinessbytheDebtor(andnotpastdue),(3)StatutoryFeespayablepursuant

to28U.S.C.j1930,(4)anAdministrativeClaim thathasbeenAllowedonorbeforethe

EffectiveDate,and(5)aCureCostClaim,mustfileandserveontheDebtor,theCommittee,

andtheUnitedStatesTrustee,arequestforpaymentofsuchAdministrativeClaim (a

û'AdministrativeRequestforPavment'')withinthirty(30)daysaftertheEffectiveDate.Any

AdministrativeRequestforPaymentmustincludegtaminimum (a)thenameandaddressofthe

holderoftheClaim,(b)theamountoftheClaim,and(c)thebasisoftheClaim.Failureto

proper% FileandserveJ'I/c/lrequestSzrle/ysltallresultintheAdministrativeClaintbeing

foreverbarredanddischarged.ObjectionstoanyAdministrativeRequestforPaymentbyany

partyininterestmustbeFiledandservedontherequestingpaftybythelaterof(a)30daysafter

theEffectiveDate;(b)30daysaûertheFilingoftheapplicablerequestforpaymentof

AdministrativeClaims;or(c)suchlaterdateasptovidedforbyorderoftheBankruptcyCourt,

whichordermaybeentereduponagplicationoftheReorganizedDebtorwithoutfurthernotice

orhearing(thellAdministrativeClalm ObiectionDeadline'').TheholdersoftheAdministrative

Claimsenumeratedin(1)-(5)aboveofthisparairaphshalnotberequired//./#earequest

forpayntentoftheirAdministrativeClaimsandshallbepaidasspec6edintltisArticle.

3.1.2 PrioritvTaxClaims.

EachholderofanAllowedPriorityTaxClaim,ofakindspecitiedinSection507(a)(8)of

theBankruptcyCode,shallbepaidinfull,within5yearsoftheEffectiveDate,incompliance

withl1U.S.C.j1129(a)(9).TheDebtorshallpaythePriorityTaxClaimsinfullthroughannual

installmentpayments,withinterest,ontheanniversarydateoftheEffectiveDateofthePlan.

TheDebtorreservestherighttopaythePriorityTaxClaimsinfullatanytime.

Th $

eDebtorestimatestheexistingPriority'TaxClaimstoincludethefollowing:

l

GeorgiaDepartmentofRevenue l $ 320,710.97

lnternalRevenueService l $l.382,049.77

Total: $ $1,702,760.74

r

TheDebtorshallpaytheInternalRevenulService'sPriorityTaxClaim infullthrough

annualinstallmentpayments,withinterestpursuahtto26U.S.C.j662land11U.S.C.j511,as

oftheEffectiveDate,whichsuchrateis7% perannum .DebtorshallpaytheInternalRevenue

Service on thelnternalRevenueServices'Allow edPriority Tax Claim through aseriesofannual

paymentsof$339,348.27,beginningonthefirstanniversarydateoftheEffectiveDateofthe

Planandcontinuingwithannualpaymentsof$339,348.27onthesecond,third,andfourth

anniversarydateoftheEffectiveDateofthePlan,withaGnalpaymentofalloutstanding

principalandinterestonthetifthanniversaryoftheEffectiveDate.

8

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NotwithstandinganyotherprovisionoftheFplan,nothinginthePlanortheConfirmation

Orderthereonshalldischargeafederaltaxdebt(orqinterestonsuchadebt)ofthekindspecified

in11U.S.C.j1141(d)(2).Notwithstandingany0th,erprovisionofthePlan,nothinginthePlan

ortheConfirmationOrderthereonshallbarorenjpintheIRSfrom assessingorcollectingany

federaltaxliabilityorpenaltyagainstaco-debtor.Further,nothinginthePlanorthe

ConfirmationOrderthereonshalexculpateorlimittheIiabilityofanyco-debtorwhoisliable

foranyfederaltaxdebt.

NotwithstandinganythinginthisPlantothecontrary,theBankruptcyCoul'tshallnot

retainjurisdictionwithrespecttoIRS'PriorityTaxClaims.A failurebytheDebtortotimelyfile

federaltaxreturnsandpayanyfutureamountsdueortomakeapaymenttothe1RSpursuantto

thetermsofthePlanshallbeaneventofdefaultastotheIRS.lftheDebtorfailstocureanevent

ofdefaultastotheIRS'PriorityTaxClaimswithinfifteen(15)daysafterthedateofawritten

noticeofdefaultbythe1RStotheDebtorandherattorneys,thenthe1RSmay(a)enforcethe

entireamountofitsPriorityTaxClaim,lessanypaymentspreviouslymade;(b)exerciseanyand

a1lrightsandremedieslRSmayhaveunderapplicablelaw;and/or(c)seeksuchreliefasmaybe

appropriateinthebankruptcycourt.

TheDebtorshallremital1fundsforpaymentofclaimsheldbythelnternalRevenue

ServicetotheU.S.DepartmentofJustice'sFinancialLitigationUnitviaU.S.MailIATTN:

TAXFLU,P.O.Box3l0-BenFranklinStation,W ashington,D.C.20044)orcourierservice

IA-f'1'N:TAXFLU,12751StStreet(NE,Room 1150'1,Washington,D.C.20002),withthe

memorandum linecontainingG'CM N 2023100080:''Paymentsmayalsobemadebyelectronic

meansorwiretransfer,forwhichDebtbrshouldcàordinatewiththeassignèdDepartmentof

JusticeTrialAttonwy.

TheDebtorshallpaytheGeorgiaDepartmentofRevenue'sPriorityTaxClaim infull

throughannualinstalmentpajments,withinterestpursuanttoO.C.G.A.j48-2-40andll

U.S.C.j51t,asoftheEffectlveDate,whichsuchrateis10.5% perannum.Debtorshallpaythe

GeorgiaDepartmentofRevenue($$GbOR'')onthe! GDOR'SAllowedPriorityTaxClaim

throughaseriesofannualpaymentsof$85,686.11,beginningonthefirstanniversarydateofthe

EffectiveDateofthePlanandcontinuingwithanpualpaymentsof$85,686.1lonthesecond,

third,andfourthanniversarydateoftheEffectivelDateofthePlan,withaGnalpaymentofaIl

1

outstandingprincipalandinterestonthefifthannlversaryoftheEffectiveDate.

NotwithstandinganythinginthisPlantotàecontrary,theBankruptcyCourtshalnot

, l

retainjurisdictionwithrespecttoGDOR sPriorit'yTaxClaims.A failurebytheDebtortotimely

fileGeorgiastatetaxreturnsandpayanyfutureamountsdueortomakeapaymenttothe

GeorgiaDepartmentofRevenuepursuanttothetermsofthePlanshallbeaneventofdefaultas

totheGeorgiaDepartmentofRevenue.IftheDebtorfailstocureaneventofdefaultastothe

GeorgiaDepartmentofRevenue'sPriorityTaxClaimswithinfifteen(15)daysafterthedateofa

writennoticeofdefaultbytheGDORtotheDebtorandheratorneys,thentheGDOR may(a)

enforcetheentireamountofitsPriorityTaxClailn,lessanypaymentspreviouslymade;(b)

exerciseanyandallrightsandremediesGDORmayhaveunderapplicablestatelaw;and/or(c)

seeksuchreliefasmaybeappropriateinthebankruptcycourt.

9

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'TheDebtorreservesth. erighttopaythePribrityTaxClaimsinfullatanytime. 1 - .

!

3.2 ClassifiedClaims t

GeneralStatementReaardinaTreatmentofClaimsandInterests.Thetreatmentofand

considerationtobereceivedbyholdersofAllowedClaimspursuanttothisArticlel11ofthePlan

shallbeinfullandincompletesatisfaction,settlement,andreleaseoftheEstate'sobligations

withrespecttosuchClaims.TheEstate'sobligationsinrespectofsuchClaimsshallbesatisfied

inaccordancewiththetermsofthisPlan.

3.2.1 TreatmentofClaimsinClass1('Non-TaxPrioritvClaims).Thereareno

knownclaimsinthisClass.IfsuchclaimsareAllowedbytheBankruptcyCourqexcepttothe

extenttheholderofanAlowedClass1Claimajreestoother,lessertreatment,anyholderofan

AllowedClass1Claim shallbepaidinfu11withlnthelateroffourteen(14)daysafterthe

EffectiveDateorthedateofallowanceofsuchclaims,whichdateofpaymentshallbedeemed

tobetheEffectiveDatewithrespecttoanysuchclaims.TheholderoftheClasslNon-Tax

PriorityClaim isnotimpairedandnotentitledtoyotetoacceptorrejectthePlan

3 r

.2.2 TreatmentofClaimsinClajs2(SecuredClaim sofAaSouthFann Credit

(fCAaS0uth'')). 1

OnJanuary20,2022,AgSouthfiledProofofClaim No.1assertingasecuredclaim in

theamountof$235,854.59(theEflass2SecuredClaim'').AgSouth'sClass2SecuredClaim is

evidencedbythefollowingloandocuments.(collebtively,the(WgSouthLoanDocuments''):(i)

FixedRateNotesignedbyTeriGalardidatedOctober15,2015,(ii)DeedtoSecureDebtdated

October15,2015,betweenCircleG RanchHoldings,LLC,TeriG GalardiandM ichaelPorter

namingAgSouthaslender,recordedintherealpropertyrecordsofButtsCounty,Book788,

Page410-416.

TheClass2SecuredClaim shallbepaidinfullinaccordancewiththeexistingloanterms

throughequalmonthlyinstallmentsof$6,504.84.TheDebtorshallcontinuemakingmonthly

installmentpaymentsonthesamedateofeachconsecutivemonthuntilpaidinfull.

AgSouthshallretainitslienandsecurityinterestinitscollateraltothesameextent,

validity,andpriorityassuchexistedonthefilingdatepursuantto11U.S.C.j1129(b)(2)(A).

Theunderlyingloandocumentsshallremainineffect,exceptasexpresslymodifiedherein,until

theDebtorhaspaidAgSouth'sClass2SecuredClaim infull.TheDebtorwillmaintain

adequateinsuranceandpayal1propertytaxesasthesamebecomedueinconnectionwithAg

South'sCollateralduringthependencyofthisPlan.

SubjecttotheAgSouth'srighttocreditbid,ifReorganizedDebtorsellsanyofAg

South'sCollateralaftertheEffectiveDate,AgSouthagreestoreleayeitslien inexchangeforthe

Iesserof:(i)fullpayoffoftheAgsouthdebt,or(ii)100% ofthenetsaleproceedsfrom apartial

saleoftheCollateral,providedthesaleisforfairmarketvalue.Agsouthshallhavetherightto

objecttoanyfullorpartialsaleoftheCollateralbytheReorganizedDebtorwhichdoesnotpay

Agsouthinfull.A summaryofAgSouth'sClass2SecuredClaim,descriptionofitsCollateral,

10

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r

. I

J CW '' andamountofPlanpaymentsisincludedinExhiblt attachedheretoandincorporatedherein

bythisexpressreferencethereto. l

TheholderoftheClass2SecuredClaim isrnotimpairedandnotentitledtovotetoaccept

orrejectthePlan. i )

3.2.3 TreatmentofClaimsinClajs3(SecuredClaimsofBusinessFirstBank).

OnM ay 17,2022,BusinessFirstBankfiledProofofClaim No.122assertingaclaim in

theamountof$7l7,075.47(thedc lass3SecuredC'laim'')consistingof$714,075.47inprincipal

and$3,257.47ininterest.TheClass3SecuredClkim arisesfromtheDebtor'sguarantyofadebt

i dertheprovisionsofaTrustAgreement ofTeriGaleGalardi,TrusteeofJEG Fam ilyTrustiun ,

datedNovember1,2006,andTrop,Inc.toBusinejsFirstBank.Theunderlyingdebtissecured

bythethatcertainpropertylocatedat1837CorporateBoulevard,Brookhaven,Georgia30329

(stcorporateBlvd.'')ownedbytheTeriGaleGalardiSeparatePropertyTrust(1$SPT'').The

CorporateBlvd.propertywasconveyedtotheSPT byW arrantyDeedrecordedonJune6,2015,

intherealpropertyrecordsofDeKalbCountyatBook24917,Page49.TheDebtorandSPT

shallbesubstantivelyconsolidatedforthepurposqsofthisPlan.

1

TheClass3SecuredClaim ofBusinessFirrstBankshallbepaidinfullinaccordancewith

theexistingloandocumentsthroughequalmonthlyinstalmentsof$11,574.60.Debtorshal

continuemakingsuchmonthlyinstallmentpaymehtsonthesamedateofeachconsecutive .

monthuntilpaidin111. ;

1

BusinessFirstBankshallretainitslienanLsecurityinterestinitscollateraltothesame

lfilingdatepursuantto 11U extent,validityandpriorityassuchexistedonthe! .S.C.j

1129(b)(2)(A).Theunderlyingloandocumentsshallremainineffect,exceptasexpressly

modifiedherein,untiltheDebtorhaspaidBusinelsFirstBank'sClass3SecuredClaim inful.

TheDebtorwillmaintainadequateinsuranceand1 11propertytaxesasthesamebecomedue

jpaya

inconnectionwithBusinessFirstBank'sCollaterjlduringthependencyofthisPlan.

l

SubjecttoBusinessFirstBank'srighttoc/editbid,ifReorganizedDebtorsellsBusiness

FirstBank,sCollateralaftertheEffectiveDate : ,BusinessFirstBankshall,inexchangefor

paymentoftheIesserof:(i)l00% ofthenetsalep'roceedsofsuchCollateral,or(ii)theamount

ofitsClass3SecuredClaim attributabletotheCollateral,releaseitsremaininglienonsuch

Collateral.A summaryofBusinessFirstBank'sClass3SecuredClaim,descriptionofits

Collateral,andestimatedPlanpaymentsisincludedinExhibitCA''attachedheretoand

incorporatedhereinbythisexpressreferencethereto.

'

TheholderoftheClass3SecuredClaim isnotimpairedandnotentitledtovotetoaccept

orrejectthePlan.

ll

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TreatmentofClaimsinClass4(SecuredClaim ofW ellsFarzoBank). !

l

(zlass4?t. i

1laim ofWellsFargoBank Class4A consistsofthefollowingsecuredc ,N.A.($1W ells

Fargo'')(Cçclass4A SecuredClaim'').OnM arch23,2022,W ellsFargofiledProofofClaim No.

111assertingasecuredclaim intheamountof$502,384.28,securedbyafirst-prioritylienon

thatcertainrealestatecom monlyreferredtoas15820SW 531-dCounty,SouthwestRanch,

Florida33331(CtsouthwestRanchesProperty').

TheClass4ASecuredClaimisevidencedbythefolowingloandocuments(collectively,

thetW ellsFargoClass4A LoanDocuments''):(i)Flxed/AdjustableRateNotedatedSeptember

15,2008,byTeriG.GalardiandM ichaelA.PorterinfavorofW achoviaM ortgage,FSB n/klz

W ellsFargo;(ii)Addendum toNoteforInterestOnlyPaymentsdatedSeptember15,2008,5by

TeriG.GalardiandM ichaelA.PorterinfavorofW achoviaM ortgage,FSB nlklaW ellsFargo;

(ii)MortgajebyTeriG.GalardiandMichaelA.Porter,WifeandHusband,datedSeptember

15,2008,wlthW achoviaM ortgage,FSB n/k/aW ellsFargoaslender,recordedinthereal

propel'tyrecordsofBrowardCounty,Florida,BookNo.45698,Pagesl915-1937.

;

Th t

eDebtorandherhusband,M ichaelPoser,conveyedtheirinterestintheSouthwest

RanchesPropertytotheJacksonGalardiTrust& draceGalardiTrustforthebenefitoftheir

grandchildrenonSeptember25,2017.TheW arrantyDeedtransferringtheSouthwestRanches

PropertywasfiledintheBrowardCounty,FloridlrealestaterecordsonNovember29,2017,

andrecordedasBrowardCountyCommissionCX No.114744796. 1

Fargoshallbepaidinfu11inaccordancewiththe

existingloandocumentsthroughequalm onthlyinstallmentpaym entsof$5,516.50.TheDebtor

andherhusband,M ichaelPorter,shallcontinuem akingsuchm onthlyinstallmentpaymentson

thesamedateofeachconsecutivemonthuntilpaidinfull.

1

W ellsFargoshallretainitslienandsecuriItyinterestinitscollateraltoth

esam eextent,

validityandpriorityassuchexistedonthefilingdatepursuantto 11U.S.C.j1129(b)(2)(A).

TheunderlyingIoandocumentsshallrem ainineffect,untiltheDebtorandherhusbandhave

paidW ellsFargo'sClass4A SecuredClaim infull.TheDebtorshallguarantyadequate

insuranceandpaymentofallpropertytaxesasthesamebecomedueinconnectionwithW ell

TheClass4A SecuredClaim ofW ells

Fargo'sCollateralduringthe

insuranceduringthependency

Fargo Class4A Loan Documents.

pendencyofthisPlan.Allpaym entsforpropertytaxesand

ofthisPlanshallremainescrowedinaccordancewiththeW ells

IntheeventofDebtor'sdefaultonWellsFarjo'sClass4ASecuredClaim,WelsFargo

mayprovidetheDebtorwithnoticeinaccordancewlththeW ellsFargoClass4A Loan

Docum ents.

TheholderoftheClass44 SecuredClaim isnotimpairedandnotentitledtovoteto

acceptorrejectthePlan.

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Class4B.

Class48 consistsofthefollowingsecuredclaim ofW ellsFargoBank,N.A.(ç1W eI1s

Fargo'')CEclass48 SecuredClaim'').WellsFargoholdsaclaim of$549,647.41securedbythe

Debtor'spersonalresidencelocatedat2146Highway42South,ButtsCounty,Georgia(tGalardi

Residence'').

TheClass48 SecuredClaim isevidencedbythefollowingIoandocuments(collectively,

thelW ellsFargoClass48LoanDocuments''):Open-EndDeedtoSecureDebtbyJackE.

Galardi,datedDecember27,2004,withW achoviaBank,NationalAssociationn/ldaW ells

FargoasIender,recordedintherealpropertyrecordsofButtsCounty,Georgia,BookNo.470,

Pages273-280.

TheClass48 SecuredClaim ofW ellsFargoshallbepaidinf'ullinaccordancewiththe

existingloandocumentsthroughequalmonthlyinstallmentpaymentsof$2,061.17.TheDebtor

shallcontinuem akingsuchmonthlyinstallmentppymentsonthesamedateofeachconsecutive

monthuntilpaidinfull.

II

W ellsFargoshallretainitslienandsecurity interestinitscollateraltothesameextent,

validityandpriorityassuchexistedonthetilingdatepursuantto 11U.S.C. jl129(b)(2)(A).

Theunderlyingloandocumentsshallremainineffect,untiltheDebtorhaspaidW ellsFargo's

Class4B SecuredClaim infu11.TheDtbtorwillmaintainadequateinsuranceandpayal1

propertytaxesasthesamebecom edueinconnectionwithW ellFargo'sCollateralsecuringthe

Claa48 SecuredClaim duringthependençyofthisPlan.Allpaymentsforpropertytaxesand

insuranceduringthependencyofthisPlanshallrçmainescrowedinaccordancewiththeW ells

FargoClass48 LoanDocuments.

lntheeventofDebtpr'sdefaulton W ellsFargo'sClass48 SecuredClaim,W ellsFargo

mayprovidetheDebtorwithnoticeinaccordancewiththeW ellsFargoClas's48 Loan

DOCUm CIIts.

l

SubjecttoW ellsFargo'srighttocreditbid,,ifReorganizedDebtorsellsWellsFargo's

CollateralsecuringtheClass48 SecuredClaim aftertheEffectiveDate,W ellsFargoshall, in

exchangeforpaymentofthelesserof:(i)100% ofthenetsaleproceedsofsuchCollateral,or(ii)

theamountofitsClass48 SecuredClaim,releaseitsremaininglienonsuchCollateral. A

summaryofW ellsFargo'sClass48 SecuredClaim,descriptionofitsCollateral,andestimated

PlanpaymentsisincludedinExhibitEIA''attachedheretoandincorporatedhereinbythisexpress

referencethereto.

TheholderoftheClass48 SecuredClaim isnotim paired and notentitledto voteto

acceptorrejectthePlan.

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i

3 1 .2.5 TreatmentofClaimsinClasj5(UnsecuredClaim ofPowerFinancialCredit

Union). r

PowerFinancialCreditUnion(GpowerFinancial'')holdsanunsecuredclaim againstthe

Debtorarisingfrom apersonalguarantyexecutedbytheDebtor,onOctober26,2021,tosecure

aloanfrom PowerFinancialtoJackE.Galardi,LLC (theçGuaranty').Theunderlyingloanis

evidencedbyacertainPromissoryNote,datedOctober26,2021,executedbyJackE.Galardi7

LLC (lçBorrower'')infavorofPowerFinancialintheoriginalprincipalamountof$2,181,000.00

(theç1Loan'')

TheDebtorherebyexpresslyreaffirm sherliabilityandobligationsarisingunderthe

Guaranty.NothingcontainedinthisPlanshallmodifyoraltertheDebtor'sliabilityand

obligationsundertheGtlaranty.PowerFinancialsrightsandremediesundertheloandocuments

andapplicablelaw arenotbeingmodifiedorotherwiseaffectedinanywaybythePlan.Nodebt

owedtoPowerFinancialshallbedischargedbythisPlan.

TheholderoftheClass5UnsecuredClaim isnotimpairedandnotentitledtovoteto

acceptorrejectthePlan.

3.2.6 TreatmentofClaim sin Class 6 (Secured Claims ofInternalRevenue

Service). t

. r

TheClass6Claim consistsofthesecuredç1laim heldbythelnternalRevenueService

(:1RS'')forunpaidestatetaxliabilitiesarisingfrolntheDebtor'sadministr:tionofherfather's

estate,asexecutoroftheEstateofJackE.Galardi,Sr.O ateofDeath:12/1/2012).The1RS

assessedtheestatetaxliabilityonApril28,2014,intheoriginalamountof$16,586,905.00.The

Debtor,asexecutorofherfather'sestate,remainspersonallyliablefortheunpaidestatetax

Iiabilityintheapproximateamountof$12,422,09;3.66(theçsEstateTaxClaim'').

l

TheIRStimelyfileditsProofofClaim NbI.35,asamended,inthisBankruptcyCase,

includingtheEstateTaxClaim intheprincipalapountof$10,810,740.37,pluspenaltiesand

interesttoPetitionDateintheamountsof$88,078.23(whichisreducedto$35,231.29underthe

Plan)and$1,576,122.00,respectively.,foratotalsecuredclaim intheamountof

$12,442,093.66.ThelRSamendeditsProofofClaim No.35,onNovember4,2022andagain

onJanuary27,2023,toproperlyretlectthesecurçdstatusoftheClass6EstateTaxClaim.

Debtorshallgrantareplacementlientothe1RStosecurepaymentoftheEstateTax

LiabilityanddischargetheexistingSpecialLien.ThespeciflcpropertypledgedtosecuretheIRS

Class6SecuredClaim isidentifiedanddescribedonExhibitIIA''attachedheretoand

incorporatedhereinbythisexpressre'ferencethereto. OntheEffectiveDate,theIRS shall

2TheDebtorandIRShaveagreedtowaiveaportionofthepenaltiesincludedintheEstateTaxClaim. Theparties

initialyagreedtowaivethesecuredstatusofthepenaltiesandincludethepenaltiesaspartoftheIRSunsecured

claim.However,ratherthanfurtherdilutethedistributionstoholdqrsofClass8claimsfrom theGalardiCreditors

Trust,theDebtorandIRShaveagreedtoinclude40% oftheamountofpenalties,$35,231.29(anamountequalto

thepro-ratadistributiontheIRSwouldreceive,ifthepenaltiesweretreatedasageneralunsecuredclaim),aspartof

thesecuredEstateTaxClaim.

l4

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receive,underthisPlan,asecurityinterestinthespjecificpropertyidentitiedanddescribedon

ExhibitSW''(thetsReplacementLien'')tosecurerepaymentoftheClass6Claim.The1RSshall

beentisledtotakealactionsnecessarytogerfecttà!eReplacementLienastoalthirdparties

againstthepropertylistedonExhibitEW ''mcludingbutnotlimitedtofilinganydeedtosecure

debt,liens,UCCS,orobtainingpledgesofmembershipintereststhe1RSmaydeem necessaryor

desirable.Debtor,theCommittee,theLiquidatingTrustee,togetherwiththeiragentsandassigns,

shalltakeanyactionorexecuteanydocumentreasonablyrequestedbytheIRSinfurtheranceof

theperfectionoftheIRS'ReplacementLien,providedthatanysuchactiontakenshallbeatno

out-of-pocketcosttosuchpal'tyrespondingtotheIRS.

TheIRSacknowledgesthattheDebtor,thjCommittee,theLiquidatingTrustee,and

potentiallendersandpurchasersofotherassetsprgvidedforinthePlanareentitledtorelyonthe

IRS'SwaiverofitsstatutorylienrightsandsuchWaivershallbebindingonthelRSuponthe

EffectiveDate.

TheClass6SecuredClaim oflnternalRevenueServiceshallbepaidinfullovçr10years

withinterestasmaybeprovidedpursuantto26U.S.C.j6621and11U.S.C.j511asofthe

ConfirmationDate,whichsuchrateis7% perannum ..TheDebtorshallmakeannual

installmentspayments,consistingofprincipalandinterest,inanamountnotIessthan

$1,755,146.75,onorbeforeDecember31StofeachyearuntiltheClass6SecuredClaim ispaid

infull.TheDebtorshallfundtheannualinstallm entpaymentsthroughthecombinationof

operatingincomegeneratedbytheReorganizedDebtor'sbusinessesand.theliquidationoflRS

CollateralsecuringtheClass6SecuredClaim. !

'

j

lfReorganizedDebtorsellsanyoftheIRSCollateralaûertheEffectiveDate,formore

thanthevalueassessedbythelocalGovernm entalEntitywithtaxingauthorityoversuch

property,the1RSshalldischargesuchpropertyfrom itslieninexchangeforpaymentofthe

lesserof:(i)l00% ofthenetsaleproceedsofsuchCollateral,or(ii)theamountofitsClass6

SecuredClaim attributabletotheCollateral.Thenetsaleproceedsreceivedbythe1RSfrom the

saleoflRSCollateralduringanycalendaryearshallconstituteacreditagainsttheannual '

installmentpaymentdueunderthisPlanforsuchcalendaryear.Theamountofanynetsales

proceedsreceivedbythelRSfrom thesaleof1RSCollateralinexcessoftheoustandingbalance

dueontheannualinstallmentpaym entdueunderthisPlanforsuchcalendaryearshallbe

appliedasacreditagainstinstallmnetpaymentsdueunderthisPlanforthesubsequentyearts).

A failurebyReorganizedDebtortomakeapaymentunderClass6,pursuanttotheterms

ofthePlan,shallbeaneventofdefaultastotheholderoftheClass6Claim .lntheeventofa

defaultunderClass6,theholderoftheClass6Claim mustsendwrittennotice(tDefault

Notice'')toReorganizedDebtor.SuchDefaultNoticemustcontainthereasonforthedefaultand

ifsuchdefaultismonetary,theamountofthedefaultandamountnecessarytocurethedefault,

aswellasnoticethatReorganizedDebtorhasfifteen(15)daysfrom receiptbyDebtorand

Debtor'scounseloftheDefaultNotice(orthefollowingbusinessdayifthefifteenth(l5th)day

doesnotfallonabusinessday)tocuresuchdefault(andtheaddressforpayment,whichwill

acceptovernightdeliveries,intheeventofamonetarydefault).Intheeventofanuncured

defaultfolowingjroperDefaultNoticeprocedures,theholderofaClass6defaultingclaim may

(a)enforcetheentlreamountofitsClass6Claim;(b)exerciseanyandallrightsandremediesit

15

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mayhaveunderapplicablenon-bankruptcylaw;and(c)seeksuchreliefasmaybeappropriatein

theBankruptcyCourt.

TheDebtorshallremita1lfundsforpaymentofclaimsheldbythelnternalRevenue

ServicetotheU.S.DepartmentofJustice'sFinancialLitigationUnitviaU.S.MailIATTN:

TAXFLU,P.O.Box310-BenFranklinStation,W ashington,D.C.20044)orcourierservice

IATTN:TAXFLU,12751StStreetNE,Room 11501,Washington,D.C.20002),withthe

memorandum linecontainingEICM N 2023100080.''Paymentsmayalsobemadebyelectronic

meansorwiretransfer,forwhichDebtorshouldcoordinatewiththeassignedDepartmentof

JusticeTrialAttorney.

TheholderoftheClass6 SecuredEstateTax Claim isimpaired and entitled to voteto

acceptorrejectthePlan.

TreatmentofClaimsinClass7(SecuredClaim ofTroplnc.Claimants).

Cl 1

ass7consistsoftheclaimsheldbvcredltorsofTropInc.basedonclaimsraisedin

Trop lnc , - ! . sChapter11bankruptcy,NDGA CaseNo.18-65726-.1W C,andtobepaidin

accordancewithTropInc'sconfirmedPlanofReôrganization.UnderTropInc.'sbankruptcy

plan,theDebtorguaranteedtheTroplnc.ClaimantspaymentsandJPG&G,LLC executeda

deed-to-securedebtinfavoroftheTroplnc.Claimantstosecuretheirclaims.Theamountofthe

Class7Troplnc.Claim isapproximately$1,168,000.00.

TheClass7ClaimshavebeenpaidinfullthroughthesaleoftheJPG&G,LLC property.

TheDisbursingAgent,W alterCohen,shallcausetheTropDSD andGuarantytobecancelledof

recordandwillwithdraw alclaimsfiledinthisBankruptcyCase.

TheholdersoftheClass7SecuredClaimsarenotimpairedandnotentitledtovoteto

acceptorrejectthePlan.

3.2.8 TreatmentofClaimsin Class 8 (Unsecured Claimsotherthan TheJEG

FamilvTrust-JackE.GalardiJr.Subtrust).

TheClass8Claimsconsistofa11unsecuredclaims,excepttheclaimsheldbytheJEG

FamilyTrust-JackE.GalardiJr.Subtrust(POC 112& 113).TheClass8Claimsincludethe

IRS,theGeorgiaDepartmentofRevenue,FLSA creditors,andotherunsecuredcreditors.

ThelRS filedProofofClaim No.35,asamended,includingageneralunsecuredclaim in

theamountof$1,214,972.62.GDOR filedProofofClaim No.121,asamended,includinga

generalunsecuredclaim intheamountof$10,025.36.Numerouscreditorsfiledclaimsbased

whollyorinpartonjudgmentsorclaimsagainsttheDebtorarisingfrom wage& hourandfair

laborstandardsactIawsuitsagainstbusinessesoperatedbytheDebtor,excltldingtheClass7

Claim heldbytheTropInc.ClaimantstheITLSA Claimants'').Theclaimsassertedbythe

FLSA Claimantsareintheaggregateamountofapproximately$22,501,838.24.A Iimited

numberofothergeneralunsecuredclaimswerefiledintheaggregateamountofapproximately

16

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$'186,480.17.A detaileddescriptionandidentityoftheFLSA ClaimantsandotherClass8

ClaimsisattachedtothePlan. ;

TheholdersofClass8Claimswillbepaid,Pro-Rata,throughthedistributionofthenet

proceedsoftheGalardiCreditorsTrustassetforthhereinbelow.

TheDebtorshallcontributecashandassetswithanestimatedvalueofnolessthan

$10,000,000.00tofundtheGalardiCreditorsTnlstforjaymentofClass8UnsecuredClaims

(çûM inimum TrustVa1ue'').TheMinimum TrustValuelsmorethantheamountthatwouldbe

availablefordistributiontoUnsecuredCreditorsunderaliquidatingplanorthroughliquidation

inaChapter7bankruptcy.Suchassetsareasfollöws:

;

$5,091,477.35projectednetincomefrom thefollowingproperties:

Pro er 'Owner/seller

506SE 11CourtFortLauderdale,FL 33316 1506Office,LLC

Ro alPalm GolfEstatesRe lat//3TractB jlackE.Galardi,LLC

18511Ro alHammockBlvd,Na 1esFL llackE. Galardi,LLC

M embershi InterestofJGP&P,LLC lDebtor

4766Fronta eRd,ForestPark,GA Debtor

StockofRedE ed,lnc. Debtor

2121HihlandDrive,LasVe as,NV89102 New Intem ationalPro erties,LLC

OntheEffectiveDate,theDebtorshallconveyor,asacontrollingmemberoftheentity

whichownstheproperty,authorizeanddirectsuchentityto'conveyorsellthepropertylisted

abovetotheGalardiCreditorsTrustforthebenefitofClass8Creditors.? lfanyoftheabove

propertyissoldbytheDebtororanentitycontrolledbytheDebtor,priortotheEffectiveDate,

theDebtor,eitherasindividual(ifthesaleisonherownbehalgorasthecontrollingmemberof

anentity(ifthesaleisbyoneofDebtor'sentities)shallcausethenetprpceedsofthesaletobe

depositedintotheIOLTA accountofeitherM cBryan,LLC orBoyerTerryLLC toholdintrust

forthebenefitofClass8UnsecuredCreditorspendingcontirmationofthePlan.lfpropertyis

beingtransferredtoGalardiCreditorsTrust,Debtorshallexecuteorcausetobeexecuteda

IimitedwarrantydeedandsuchotherdocumentsasmayreasonablyrequestedbytheComm ittee

orLiquidatingTrusteetoeffectuatesuchtransfer.;Suchtransfershallbesubjectto1lU.S.C.j

ll46(a)asprovidedinParagraph10.5.TheDebtbrshallexecuteanydocumentationreasonably

I

-

3 j

PriortoconveyanceOfthel85llRoyalHammockBlvd.propertytotheGalardiCreditorsTrust,theDebtorshal

facilitateandcauseJackE.Galardi,LLC toobtainareleaseofthesecurityinterestheldbyPowerFinancialagainst

theproperty.lfJackE,Galardi,LLC doesnotobtainareleaseofthesecurityinterestheldbyPowerFinancialby

theEffectiveDate,thentheamountof$595,200.00(theestimatedvalueofthenetproceedsofthesaleofl85l1

RoyalHammockBlvd.property)shallbeaddedtotheprincipalamountoftheGCTPromissoryNote,describedin

Paragraph3.2.8(3)hereinbelow.UponreceivingareleaseofthesecurityinterestheldbyPowerFinancialagainst

the18511RoyalHammockBlvd.property,theDebtorshallcauseJackE.Galardi, LLC toconveytheproperty to

theGalardiCreditorsTrust.TheDebtorshalreceiveacreditagainsttheprincipalbalanceoftheGCT Promissory

Noteintheamountof$595,200.00,iftheDebtorreceivesareleaseofthesecurityinterestheldbyPowerFinancial

andconveysthel85IlRoyalHammockBlvd.propertytotheGalardiCreditorsTrustwithin30daysofthe

EffectiveDateorwithinsuchextendedtimeasagreedtobytheLiquidatingTrustee.

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requestedbytheCommitteeorLiquidatingTrusteptoeffectuatethetransferofpropertyto

GalardiCreditorsTrust.

j

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2. lnitialCashDepositof$2,500,000.00'totheGalardiCreditorsTnlst.

NotlaterthanthefirstscheduledhearingonconfirmationofthePlan,theDebtorshall

deposit$2,500,000.00. incashintotheIOLTA accountofeitherM cBryan,LLC orBoyerTerry

LLC toholdintrustforthebenetitofClass8UnsecuredCreditorsandthelaw firm holdingthe

depositshallfileastatusreportonthedocketreportingthatthefirm isholdingsuchamountin

trustforthebenefitofClass8UnsecuredCreditorspendingconfirmationofthePlan.

3. GCT Prom issoryNoteissuedtotheGalardiCreditorsTrust.

OnorbeforetheEffectiveDate,DebtorshallexecuteanddeliveraPromissoryNotein

favoroftheGalardiCreditorsTrust,substantially intheform ofthepromissorynoteattachedto

thePlan,asExhibitQCB''(theSIGCTPromissoryNéte'').TheGCTPromissoryNoteshalbeinthe

amountnecessarytomeettheMinimum TrustValueaftercreditfor(i)thenetproceedsofthe

propertysales,(i)theestimatednetvalueofremalningrealpropertytobeconveyedtothetrust,

and(iii)theInitialCashDeposit. ;

'

OntheEffectiveDate,Debtorshallalsoexecute,orauthorizetheentityowningthe

propertytorxecute,anddelivertotheLiquidatingTrusteetheDeedstoSecureDebtagainstthe

followingproperties,substantiallyintheform ofthedeeds-to-securedebtatachedtothePlan,as

Exhibit&B''#tosecurepaymentoftheGCT PromikIsoryNote:

I

Pro er l Owner

1837CororateBoulevard,Brookhaven,Georiâ30329 TG Se aratePro el't Trust

k

'

2608M etro olitanParkwa SW ,Atlanta,Georla30315 TrinidadCreationsLLC

760PiedmontAveNE,Atlanta,Geor ia30308 ' CircleG RanchHoldings,LLC

TheGCTPromissoryNoteshalbedueandpayableinfulnolaterthanthefirstBusiness

Daythatisnotlessthan120daysfollowingtheEffectlveDate.TheLiquidatingTrusteeshall

satisfytheDeedstoSecureDebtreferenceabovetvithinthree(3)BusinessDaysafterreceiptof

thefullamountoftheGCTPromissoryNote ; . !

A failurebyReorganizedDebtortomakeàpaymentunderClass8,pursuanttotheterms

ofthePlan,shallbeaneventofdefaultastotheholdersoftheClass8Claims.Intheeventofa

defaultunderClass8,theLiquidatingTrustee,onbehalfoftheholdersofClass8Claims, m ust

sendwritennotice(tDefaultNotice'')toReorganizedDebtor.SuchDefaultNoticemustcontain

thereasonforthedefaultand ifsuchdefaultismonetary,theamountofthedefaultandamount

necessarytocurethedefault,aswellasnoticethatReorganizedDebtorhasGfteen(15)days

from receiptbyDebtorandDebtor'scounseloftheDefaultNotice(orthefollowingbusiness

dayifthefifteenth(15th)daydoesnotfallonabusinessday)tocuresuchdefault(andthe

addressforpayment,whichwillacceptovernightdeliveries,intheeventofamonetarydefault).

lntheeventofanuncureddefaultfollowingproperDefaultNoticeprocedures, theLiquidating

Trsutee,onbehalfoftheholdersofClass8claims,may(a)enforcetheentireamotlntdueto

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Class8;(b)exerciseanyandalrightsandremediqsitmayhaveunderapplicablenonbankruptcylaw,includenon-judicialforeclosureoptheDeedstoSecureDebtinfavorofClass

84and(c)seeksuchrelief.asmav'*' beap'>'p*'rop'*riatein:theBankruptcyCourt.

UntilreceiptofpaymentoftheGCT Prom issoryNoteinindefeasiblefundsbythe

GalardiCreditorsTrust,Debtorexpresslyandknowinglyagreesthatshe,asthesolememberand

managerofTrinidadCreationsLLC andCircleG RanchHoldingsLLC,shallnothavethe

authorityto(i)fileorcausetobefiledonbehalfofeitherentityaproceedingunderTitlel1of

theUnitedStatesCodeoranysimilarreorganizationorliquidationproceeding,or(ii)transfer

hermembershipinterestorpositionasmanagertoanotherinordertocausesuchafiling.Inthe

eventofsuchaproceedingbeingfiled,Debtor,asquthorizedagentonbehalfofsuchentities,

expresslyandknowinglyagreesthat(i)suchproceedingshallbesubjecttoimmediatedismissal,

and(ii)theautomaticstayshallnottakeeffect.TheDebtoracknowledgesthatshehasagreedto

thisprovisionwiththeadviceofbankruptcycounsel.

Asprovidedhereinbelow,Thom asT.M cclendonoranalternativeLiquidatingTrustee

appointedinaccordancewiththetel'msoftheGalrdiCreditorsTrust,shall,initssolediscretion,

p managetheTrustAssets,negotiatethecomprom iseandsettlementofClass8UnsecuredClaims,

andadmihisteraIIdisbursementstoholdersofClajs8ClaimsinthisBankruptcyCase.The

DebtorshallnotbeentitledtoobjecttoanyclaimjinthisClass8andtobepaidthroughthe

GalardiCreditorsTrust. :

!

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TheLiquidatingTrusteejhallremital1fundsforpaym entofClass8claimsheldbythe

InternalRevenueServicetotheU.S.DepartmentofJustice'sFinancialLitigationUnitviaU.S.

MailIATTN:TAXFLU,P.O.Box310-BenFranklinStation,W ashington,D.C.20044)or

courierservice(ATTN:TAXFLU,12751StstreetNE,Room 11501,W ashington,D.C.20002),

withthememorandum Iinecontaining(C M N 2023100080.''Paymentsmayalsobemadeby

electronicmeansorwiretransfer,forwhichtheLiquidatingTrusteeshouldcoordinatewiththe

assignedDepartmentofJusticeTrialAttorney.

Debtorexpresslywaivestheautomaticstayprovisionsof11U.S.C.j362astoClass8

andallclaimscontainedwithintheGalardiCreditorsTrustinanyfuturebankruptcyfilingifa

voluntal'yorinvoluntary bankruptcyproceedingipfiledbyoragainstDebtorpriortothetimely

paymentofallamountprovidedinClass8ofthePlanorrecordationofanyDeedUnderPower

asprovidedinsuchclassofthePlan;gndinsuchevent,theLiquidatingTrustee,itsagentsand

assigns,shallbeentitledtoimmediaterelieffrom 'anyautomaticstayimposedbySection362of

theBankruptcyCode,oranyothersimilarstatute,inorderthattheLiquidatingTrusteemay

immediatelyexerciseitsrightsandremediesasprovidedinthisPlan,theGCT Prom issoryNote,

theDeedstoSecurityDebt,andanyotherdocumentsexecutedpursuanttothePlan,orunder

applicablelaw withrespecttothepropertysecuredundertheDeedstoSecureDebt.

Debtorfurtherwaivesanyrightpursuanttol1U.S.C.j1127orotherwisetomovethe

Court.tomodifythisPlanofReorganizationastoClass8,anyrightsorremediesgiventothe

creditorstreatedpursuanttoClass8,theGalardiCreditorsTrust,ortheLiquidatingTrustee,and

Debtoracknowledges,withtheadvîceofbankruptcycounselthatsheknowinglyand

intelligentlywaivesherrighttoseektomodifythePlanoranyplaninanyfuturebankruptcyas

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tothep'artieslistedâbove.Debtorfurtherwaivesherrighttoseeka ardship''discharge

pursuantto11U.S.C.51l41(d)(5)astotheobligationsimposedunderClass8.

HoldersofClass8ClaimsareimpaifedandentitledtovotetoacceptorrejectthePlan.

3.2.9 TreatmentofClaim sin Class9 (Unsecured Claimsheld bv JEG Fam ilv

Trust-JackE.Galardi.Jr.Sub-Trust).

TheClass9ClaimsconsistofunsecuredclaimsheldbytheJEG FamilyTrust-JackE.

Galardi,Jr.Sub-Trust(stlackJr.Sub-Trusf')whicharisefrom theDebtor'sobligationsin

connectionwithadminstrationoftheEstateofJackE.Galardi,Sr.TheJackJr.Sub-Trustfiled

ProofofClaim Nos.112& 113inthbamountsof$843,509.20and$1,053,191.20(thetllackJr.

Claims''),respectively.ThetotalamountoftheClass9Claimsisapproximately$1,896,700.40.

TheClass9Claimsaresubjecttoanadversaryproceedingcurentlypendingbeforethe

BankruptcyCourt,AdversaryProceedingNo.22-5;008(theûdAdversaryProceeding'').lnthe

AdversaryProceeding,theJackJr.Sub-TrustassertsthattheClass9Claimsarenondischargeablepursuantto11U.S.C.j523(a)(2)(A),j523(a)(4),andj523(a)(6).TheDebtorhas

filedanAnswerandCounterclaims,'denyingthenon-dischargeabilityoftheClass9Claimsand

seekingtoavoidaspreferentialtransfersandfraudulenttransferscertainpaymentsandseeking

equitablesubordinationoftheClass9Claims.TheAdversaryProceedingiscontinuing,witha

RenewedM otiontoDismiss,or,inthealternative,Abstaincurrentlypending,beforethe

BankruptcyCourt.

p '

TheholdersofClass9Claimswillbepaid,ifatall,aûerresolutionoftheAdversary

ProceedingandadeterminationofthevalidityandamountoftheClass9Claimsheldbythe

JackJr.Sub-Trust.Uponsuchdeterm inationbytheBankruptcyCourt,theDebtorshallpay

Class9Claimsanamountequaltothesamepercentageofpro-ratadistributionreeivedby

holdersofClass8claims(i.e.apercentageequaltothetotalallowedClass8Claimsdividedby

$10million,whichiscurrentlyestimatedtoequalapproximately40%4.TheDebtorshallpaythe

equalpercentageoftheallowedClass9Claim sthrough60equalmonthlyinstallments,withthe

amountofthepayméntsbasedona10yearamortizationofthepro-ratapercentageofthe

allowedclaim amountwithinterestattherateof7% perannum,followedbyafinalballoon

P

aymentforthebalancedueafterthe60thpayment.

Fortheavoidanceofdoubt,theholdersofClass9Claimsshallnotbeentitledto

padicipateintheGalardiCreditorsTrustandshalnotsharejro-ratawiththeClass8Claims.

Although,Class9Claimsshallreceiveapercentagedistributlonequaltothepro-ratapercentage

receivedbyholdersofClass8Claims.

lfatconclusionoftheAdversaryProceeding,theBankruptcyCourtdeterminesthatthe

Class9Claimsarenon-dischargeable,thenDebtorshallpaythefullamountoftheallowedClass

9Claim sinfullthrough 120equalmonthly installm entsbasedon a20yearam ortizationat7%

interes'tperanntlm, followedbyaballoonpaymentforthebalancedueafterthe120thP

ayment.

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A failurebyReorganizedDebtortomake4paymentunderClass9,pursuanttotheterms

ofthePlan,shallbeaneventofdefaultastothehllderoftheClass9Claim.lntheeventofa

defaultunderClass9,theholderoftheClass9Claim mustsendwrittennoticer&Default

Notice'')toReorganizedDebtor.SuchDefaultNoticemustcontainthereasonforthedefaultand

ifsuchdefaultism onetary,theamountofthedefaultandamountnecessarytocurethedefault,

aswellasnoticethatReorganizedDebtorhasfifteen(15)daysfrom receiptbyDebtorand

Debtor'scounseloftheDefaultNotice(orthefollowingbusinessdayifthefiûeenth(15th)day

doesnotfallonabusinessday)tocuresuchdefault(andtheaddressforpayment,whichwill

acceptovernightdeliveries,intheeventofamonetarydefault).lntheeventofanuncured

defaultfollowingproperDefaultNoticeprocedures,theholderofaClass9defaultingclaim may

(a)enforcetheentireamountofitsClass9Claim;(b)exerciseanyandallrightsandremediesit

mayhaveunderapplicablenon-bankruptcylaw;apd(c)seeksuchreliefasmaybeappropriatein

theBankruptcyCourt.

HoldersofClass9ClaimsareimpairedandentitledtovotetoacceptorrejectthePlan.

3.2.10 TreatmentofClaimsinClass10(SecuredClaimsheldbvRedShield

FundinaasassigneeofAlexisKingb. i

l

Th !

eClass10Claimsconsistofasecuredqlaim heldbyRedShieldFunding,asassignee

ofAlexisKing(tltedShield'')(ClaimNo.1l0)(tl'eSsKingClaim''),whichassertsaclaimof

$468,446.62securedbytçpersonalproperty''perfectedbyaE'LienCertificate.''Attachedtothe

KingClaim isanElectronicJudgmentLienCertificate'tiledOctober26,2021.Suchdateis

withinthe90dayspriortothefilingofthisbankrgptcycase.Debtorassertsthatsuchsecurity

interestisapreferentialtransfir. i

I

Debtorshalltileanadversaryproceedingjeekingtosetsuchsecuredstatusasideasa

preference.Ifsuchactionissuccessfulandthereiordingofthejudgmentlienissetasideasa

preference,theKingClaim shallbereclassifiedajaClass8UpsecuredClaim .TheLiquidating

Trusteeshalhavetheright(butnottheobligationi)toobjecttotheKingClaim withinl20days

ofanyFinalOrderfromthisCourtsettingasideth:efilingofthejudgementlienasapreference.

Thereafter,anyAllowedAmountoftheKingClajm shallbepaidasaClass8UnsecuredClaim

andshareprorata.TheLiquidatingTrusteeshalltreattheKingClaim asaDisputedClaim until

dçterminationbytheCourtofthepreferenceactiq1n.

l

1 b FinalOrderoftheCourt Ifsuçhpreferenceactionisnotsuccessful,.asdetermined y ,

thenDebtorshallpaytheKingClaim infullthroggh60equalmonthlyinstallmentswithinterest

attheapplicablejudgmentrateof0.08% asnotedontheJudgmentLien.

A failureby Reorganized Debtortom akeapaym entunderClass10,pursuanttothe

termsofthePlan,shallbeaneventofdefaultastotheholderoftheClass10Claim .lntheevent

ofadefaultunderClassl0,theholderoftheClass10Claim mustsendwritennotice(tûDefatllt

Notice'')toReorganizedDebtor.SuchDefaultNoticemustcontainthereasonforthedefaultand

ifsuchdefaultismonetary,theamountofthedefaultandamountnecessarytocurethedefault,

aswellasnoticethatReorganizedDebtorhastifteen(15)daysfrom receiptbyDebtorand

Debtor'scounseloftheDefaultNotice(orthefollowingbusinessdayifthefifteenth(15th)day

doesnotfallonabusinessday)tocuresuchdefault(andtheaddressforpayment,whichwill

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acceptovernightdeliveries,intheeventofamonétarydefault).lntheeventofanuncured

defaultfollowingproperDefaultNoticeprocedures,theholderofaClass10defaultingclaim

may(a)enforcetheentireamountofitsClass10Claim;(b)exerciseanyandal1rightsand

remediesitmayhaveunderapplicablenon-bankruptcylaw;and(c)seeksuchreliefasmaybe

appropriateintheBankruptcyCourt.

HoldersofClass10ClaimsareimpairedandentitledtovotetoacceptorrejectthePlan.

ARTICLE IV

M EA NS FOR IM PLEM ENTATIO N O F TH E PLA N

4.l FundincofthisPlan.

ThisPlanisareorganizingChapter11planfortheDebtor.Thefundsrequiredfor

implementationofthisPlanandthedistributionsliereundershallbeprovidedfrom revenue 1 ,

generatedfrom thecontinuedoperationoftheReorganizedDebtorsbusinesses,injectionsof

capitalfrom thesaleoftheDebtor'sproperty,loah, sobtainedbytheReorganizedDebtor,andthe

conveyanceofcertainproperty(orproceedsfrom pendingsales)andcapitalcontributiontothe

GalardlCreditorsTrust.Furthermore,theDebtor'scontributionoftheM inimum TrustValue(as

definedinClass8above)totheGalardiCreditorsTrustprovidesthemostefficientmannerof

distributiontoholdersofAllowedUnsecuredClass8Claims,TheGalardiCreditorsTrustallows

theCreditorsCommitteetomanagetheadministrationoftheTrustAssetsinitssolediscretion,

withoutanyinterferencefrom theDebtororReorganizedDebtor.

4.2 n eReoraanizedDebtor. ',

4.2.1 RoleoftheReorcanizedDebtorUnderthePlan.ThePlanwillbe

administeredbytheReorganizedDebtor,whowillbevestedwithpowerandauthorityovera1I

remainingassetsoftheDebtorandtheEstate,andwiththeobligationtoadministerand

consummatetheconveyancesanddistributionsinaccordancewiththePlalt.TheReorganized

' DebtorshallbedeemedasoftheConfirmationofthePlantobethegeneralrepresentativeofthe

EstateasauthorizedunderandpursuanttotheBankruptcyCode,specificallyincludingwitlaout

limitationSectionI123(b)(3).TheReorganizedDebtorshallbeindemnifiedbytheEstatefor

feesandcosts,includingattorneys'fees,foranyactionstheytakeorfailtotake,exceptforthose

donewithgrossnegligenceormaliciousintent.

4.2.2 PowersoftheReoraanizedDebtor.Exceptasotherwiseprovidedinthis

Plan,theReorganizedDebtorshallbevestedwithandshallhaveallrights,powers,andduties

thatshehadimmediatelypriortoConfirmationunderSections1106,1107,and ll08ofthe

Bankruptcy Codeandotherw ise,including,F ithoutlim itation,w ithrespectto CausesofAction

(whetherornotcommencedasofConfirmation).TheReorganizedDebtorshallhaveexclusive

controloftheAssets,including,withoutlimitation,theCausesofAction.TheReorganized

Debtorshallhaveauthoritytoauthorizethesale,abandonm ent,orotherliquidationoftheAssets

asfurthersetfollhinthePlan.TheReorganizedDebtorshallbetherepresentativeoftheEstate

andshallhavethecapacitytosueandbesued,asprovidedunderSections323and1l23(b)(3)of

theBankruptcyCode,andotherwiseunderthePlanortheBankruptcyCode.

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4.2.3 Overview ofDutiesofReoraanizedDebtor.TheReorganizedDebtor

shallbeempoweredtoandshallmakealIdistributionsrequiredtobemadeunderthisPlan,and

theReorganizedDebtorshallbeauthorizedandempoweredtofullyactasoftheEffectiveDate,

including,withoutlimitation,to(a)prosecute,setle,orreleasea11CausesofAction,in

accordancewiththebestinterestofandforthebenefitoftheCreditorsentitledtoreceive

distributionsunderthePlan;(b)Iiquidateassets,includingthroughanypendingsalemotions

initiatedbytheDebtor,butnotconsummatedasoftheEffectiveDateorotherwise;(c)prosecute

objectionstoClaims;(d)resolveDisputedClaims;(e)makedistributionstotheholdersof

AllowedAdministrativeClaims,AllowedPriorityITaxClaims,andholdersofotherAllowed

Claims(astheirrespectiveinterestsmayappearinaccordancewiththisPlan)inasprompt,

efticient,andorderlyfashionaspossibleinaccord:ancewiththePlan;(9perform administrative

servicesrelatedtotheimplementationofthisPlan;(g)employattorneysandotherProfessionals,

asfurthersetforthbelow,toassistinfulfillingtheReorganizedDebtor'sobligationsunderthe

Plan;and(h)othelwiseactinaccordancewiththisPlanandordersoftheBankruptcyCourt.

4.2.4 PlanlmplementationServices.TheReorganizedDebtorshallbe

authorizedtotakesuchactionsastheym aydeem pecessarytoperform theirobligationsunder

thePlanandmayretaintheservicesofProfessionqlsnecessarytoassistandadvisethe

ReorganizedDebtorintheperformanceoftheirdtltiesunderthePlan,including,without

lim itation 1 , lawyers,accountants,brokers,andauctioneers.Compensationandreim bursementof

expensesearnedandincurredbyProfessionalsperformingservicesfortheReorganizedDebtor

aiertheEffectiveDatesha:lbepaidbytheReorganizedDebtormonthlyaûerrenditionofbills

totheReorganizedDebtor,andnofurtherapplicationsforcompensationorreimbursementof

expensesshallbenecessaryorrequiredunlessadisputearises.Intheeventofany suchdispute,

thesameshallberesolvedbytheBankruptcyCourtafternoticeandhearing.

4.2.5 Reports.

l

(a) MonthlvOperatinaReports.UntiltheentryofaFinalDecree,the

ReorganizedDebtorshalprepareandfiletheMoh1thlyOperatinjReportsrequiredbytheOffice

oftheUnitedStatesTrusteewithinthetimesspecifiedbytheUnltedStatesTrustee.

:

(b) TaxReturns.TheReorganizedDebtorshallcausetobepreparedandfiled

alfederal,state,orIocaltaxreturnsrequiredtobejreparedandGledbytheDebtorthathavenot

beenpreparedorfiledbytheEffectiveDate,orwhlchfallduethereafter.

4.2.6 ApplicationforFinalDecree.Assoonasreasonablypracticablefollowing

substantialconsummationofthisPlan,theReorganizedDebtorshallfileafinalreportand

applicationforFinalDecree,ifnotpreviouslyfiled.

4.2.7 StandardofCareforReor/anizedDebtor;Exculnation.TheReorganized

Debtorshallperform thedutiesandobligationsimposedontheReorganizedDebtorbythisPlan

w ithreasonablediligenceand careunderthecirctlm stances. Upon com pletionofallpayments

duetocreditorsunderthisPlan,theDebtorshallbedischargedasprovidedunder1lU.S.C.j

l141(d)(5)andinaccordancewithM .D.G.A.LocalBankruptcyRule3022-1.

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4.2.8 Revestina.Exceptasothem iseprovidedinthePlanororderconfirm ing

thePlan,al1oftheDebtor'sproperty,exceptforpropertythathasbeen ormaybeabandoned,

releasedorrejectedbytheDebtor,willvestinandberetainedbytheReorganizedDebtor.On

theEffectiveDate,theReorganizedDebtorwillbeentitledtocontinuetheoperationofthe

Debtor'sbusinessesandtobuy,use,acquire,encumberanddisposeofanyproperty,andto

obtaincredit,inanym annertheReorganizedDebtormaychooseinaccordancewithapplicable

nonbankruptcy1aw andfreeofanyrestrictionsoftheCode.AsoftheEffectiveDate,all

propelyoftheReorganizedDebtorshallbefreeandclearofallclaims,liensandencumbrances,

exceptasotherwiseexpresslyprovidedforinthisPlanwithrespecttoanyclaimsinanyclasses.

Doc401

4.2.9 UnclaimedPropertv.A11distributionsmadebymailwillbemadetothe

latestmailingaddressfiledofrecordwiththeBankruptcyCourtforthepartyentitledthereto.

Anysecurity,moneyorotherpropertyremainingunclaimedattheexpirationofninety(90)days

aftersuchmailingshallbecomepropertyoftheRhorganizedDebtorpursuanttoj347(b)ofthe

Code. '

I

GalardiCreditorsTrustandLiquidatingTrustee

I

1

OntheEffectiveDate,theDebtorshallestablishaliquidatingtrustforthebenefitofthe

HoldersofClass8UnsecuredClaims(theSsGalardiCreditorsTrust').TheDebtorshallexecute

theTrustAgreement(G'-frustAgreemenf')anditshallbecomeeffectiveontheEffectiveDate.ln

accordancewiththeTrustAgreement,theGalardiCreditorsTrustshallbeadministeredby

ThomasT.M cclendonoran'altem ativedisinterestedthird-partyselectedbytheCommittee,

subjecttoCourtauthorization,asthe(çtiquidatingTrustee').SubjecttotheTrustAgreement,

theLiquidatingTrusteeshallservefrom andaftertheEffectiveDateuntilcompletionoftheir

responsibilities.ThissectionofthePlansetsforthcertainoftherights,duties,andobligationsof

theLiquidatingTrusteeandthetermsoftheGalardiCreditorsTrust,allofwhichwillbemore

fullydescribedin'theTrustAgreement(acopyoftheTrustAgreement,insubstantiallythesame

form aswillbeexecutedbytheDebtor,isattachedtothisPlanasExhibit:C'').lntheeventof

anyconflictbetweenthetermsofthissectionandthetermsoftheTrustAgreem ent,thetermsof

theTrustAgreementshallgovern.

4.3.1 DutiesandPowersoftheLiquidatinaTrustee

TheGalardiCreditorsTrustshallbeestablishedsolelyforthepurposesprovidedforin

theTrustAgreement,whichshallinclude,withoutlimitation,(i)administering,maintaining,and

ultimatelydistributingtheTrustAssets,asidentifiedhereinbelow,andtheproceedsreceived

from IiquidationoftheTrustAssets(collectively,theltl-rustProceeds''),(ii)providingforthe

comp'romiseandsetlelnentofClass8UnsecuredClaims,and(iii)determining,objectingto,and

resolvingobjectionstounliquidatedandDisputedClass8UnsecuredClaimsparticipatinginthe

GalafdiCreditorsTrust.Suchrights,powers,anddutiesgrantedtotheLiquidatingTrusteeshall

vestontheEffectiveDatewithouttheneedtoobtainfurtherCoul'tapproval.

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TheLiquidatingTrustee,initssolediscrejon,mayacceptcompromisesandsettlementof

anyAllowedUnsecuredClass8Claim orDisputedClass8UnsecuredClaim participatinginthe

GalardiCreditorsTrustwithoutfurtherorderoftheCourt.

ExceptasexplicitlyprovidedinthePlan,theDebtornortheReorganizedDebtorshall

haveanyliabilityforanycostorexpenseoftheGalardiCreditorsTrustfollowingtheEffective

Date.TheLiquidatingTrusteeshalldistributetheTrustProceedsinaccordancewiththeTrust

Agreem entandthetermsofthePlan.

TheLiquidatingTrusteeshallinvestanym oniesheldatanytim easpartofthisTrust

Estate,andeveryotherreserveorescrow fundestablishedpursuanttothetermsofthisTrust

Agreement,only ininterest-bearingdepositorcertificatesofdepositissuedbyanyfederally

insuredbankinginstitutionorshol-t-term investmént(withoutreaardtothelimitationonamounts

insuredbvtheFederalDepositlnsuranceCorporationfordenositions),includingshort-term

obligationsotlorunconditionallyguaranteedaspaymentby,theUnitedStatesofAmericaand

itsagenciesorinstrumentalities,pendingtheneedforthedisbursementthereofinpaymentof

costs,expenses,andliabilitiesoftheCreditorsTrustorinmakingdistributionspursuantto

Section5oftheTrustAgreement.

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4.3.2 TransferstotheCreditorsTrust

Onandafter(asapplicable)theEffectiveDate,theDebtorshaltransfer,assign,deliver

anddistributetotheGalardiCreditorsTrustallright,title,andinterestincertainassetsofthe

Debtor,whicharespecificallyidentifiedinClass8ofthisPlan,including(i)certainparcelsof

realestate,(ii)netproceeds9om thesaleofrealestatepreviouslysold,(iii)cashdueonthe

EffectiveDate,and(iv)theadditionalcashdueaftertheEffectiveDateinaccordancewith

Paragraph3.2.8above,and(v)alldocumentsnecessarytoeffectuatesuchtransfers(collectively,

thetd-frustAssets-'')

( '

SubjecttothetermsofthePlanandtheTfustAgreement,theGalardlCreditorsTrustand

theLiquidatingTrusteeshall,ontheEffectiveDate,bevestedwithandsucceedtoa11rights,

privileges,immunities,title,andinterestoftheDebtorinandtotheTrustAssets,andth.eD ebtor

andtheReorganizedDebtorsshallhavenootherfurtherrightsorobligationswithrespect

thereto,exceptassetforthinthePlanandanyancillaryagreementsexecutedinconnectionwith

thePlan.Inaddition,ontheEffectiveDate,theLiquidatingTrusteeshalbevestedwithand

succeedtoalIDebtor'srightsofsetoffcredits,creditbalances,defenses,andanyrightwith

respecttotheadjustmenttoClass8UnsecuredClaimsbutonlytotheextentsuchrights(i)

existedasoforrelatedtotheperiodpriortothePetitionDate,and(ii)donotexceedtheAllowed

amountoftheapplicableUnsecuredClaim.

Notwithstandingtheforegoing,theReorganizedDebtorshallmakeavailabletothe

LiquidatingTrustee(subjecttoappropriateconfidentialityandprivilegearrangements)

reasonableaccessduringnormalbusinesshours,uponreasonablenotice,topersonnelandbooks

andrecordsoftheReorganizedDebtortoenabletheLiquidatingTrusteetoperform the

LiquidatingTrustee'stasksundertheTrustAgreem entandthePlan,andtheDebtorandthe

ReorganizedDebtorshallpermittheLiquidatingTrustee(subjecttoappropriateconfidentiality

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andprivilegearrangements)reasonableaccesstoirformationrelatedtotheunliquidatedand

DisputedUnsecuredClaims,andanyotherClaim thatisreasonablyrequestedbytheGalardi

CreditorsTrust.

lnterestsintheGalardiCreditorsTrustshallbeuncertificatedandshallbenontransferableexceptupondeathoftheinterestholderorbyoperationoflaw orwithconsentofthe

LiquidatingTrusteeuponsuchtermsastheLiquidatingTrustee,inhissoleandabsolute

discretion,mightrequire.

4.3.3 FundincofGalardiCreditorsTrustExpenses

TheexpensesoftheGalardiCreditorsTrust,includingthefeesoftheLiquidating

Trustee,shallbefundedfrom theTrustProceeds,andshallnotbefundedbytheDebtororthe

ReorganizedDebtor.

RetentionofProfessionalsbvtheGalardiCreditorsTrust

AsmoreparticularlysetoutintheTrustAjreement,theLiquidatingTrusteemayretain

counselandotherprofessionalstoassistinhisdutjIes,onsuchtermsastheLiquidatingTrustee

deemsappropriate.Withoutlimitingthegeneralityoftheforegoing,theLiquidatingTrusteemay

retainanyoftheprofessionalsinvolvedintheBarikruptcyCaseirespectiveoftheirpriorrolesin

theBankruptcyCase i .

4.3.5 TerminationofGalardiCreditorsTrust

UponthefinaldistributionoftheTrustAssets,andcompletionoftheLiquidating

Trustee'sresponsibilities,theLiquidatingTrusteeshallberelievedoffurtherresponsibility.

4.4 DissolutionoftheCommittee

UpontheEffectiveDate,theCommitteeshallbedeemeddissolvedandofnofurther

forceandeffective.NotwithstandingthedissolutionoftheCommittee,theCommitteeandits

ProfessionalsshallbeentitledtoapplyforapprovalbytheBankruptcyCourtoftheirFeeClaims

andanyotheramotlntsrequestedaftertheEffectiyeDate.

ARTICLE V

TREATMENT OFEXE/UTORY CONTRACTS

ANDUNEXPIX DLEASES

AssumptionorReiectionofExecutorvContracts.

OntheConfirmationDate,a1lExecutoryContractsandunexpiredleasesshallbedeemed

assum ed,in accordancew iththeprovisionsofSections365and 1123,and any otherrelevant

provisionsoftheBankruptcy Code.

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.2 CureCostClaim s. l

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A1lAllowed Cure Costs (which are defined in the Plan asAdministrative Claims)

associatedwiththeassumedExecutoryContractswillbepaidinaccordancewithSection3.1.1of

thePlan.

ARTICLE V1

PAYM ENT AND DISTRIàUTIONSON CLAIM S

M annerofPavment

AnypaymentinCashtobemadebytheReorganizedDebtorshallbem ade,atthe

electionoftheReorganizedDebtor,bycheckdraWnonadomesticbankorbywiretransferfrom

adomesticbank.

6.2 FundsandAccountsforPavmentofClaimsandPlanImplementation.

AssoonaspracticableaftertheEffectiveDate,theReorganizedDebtorshallestablish

andmaintainthefollowingfundsand/oraccountstoim plementthePlan:

6.2.1 DisputedClaimsReserve. AsofandaftertheEffectiveDate,the

ReorganizedDebtorshallestablishandm:intainaninterest-bearingaccountwhichshall

becalledtheDisputedClaimsReserve,iniowhichtheReorganizedDebtorshalldepösit

theamountsthatwouldotherwisebeduetoholdersofDisputedClaimsinaccordance

withthetermsofthePlan.SuchDisputedClaimsRejerveshallbem aintainedbythe

ReorgaùizedDebtoruntileachDisputedClaim ineachrespectiveclasshasbeenallowed

ordisallowedbyOrderoftheBankruptcyCourt.Thereaker,anyexcessfundsinthe

DisputedClaimsReserveshallbetransferredbacktotheReorganizedDebtor.This

parajraphshalnotapplytotheClass8Uh!secùredClaimstobepaidfromtheGalardi

CredltorsTrust.

6.2.2 PlanExpenseReserve.OntheEffectiveDate,orassoonthereafteras

reasonablypracticable,theReorganizedDebtormaycreateoutofanyfundsnotsubject

toalienareserveforplanexpenses,includingcostsnecessarytoadequatelyfundpursuit

ofCausesofActionwhichtheReorganizedDebtorbelievesislikelytoproducea

recoverymorethanthecostsofprosecutionofsuchCausesofAction.TheReorganized

DebtormayreserveandtransferanappropriateamountofCash intosuchplanaccountas

theReorganizedDebtordeem necessaryanddesirabletopayplanexpensesefficiently

andpromptly.

6.2.3 AccountsEstablishedPursuanttothePlan.Unlessotherwiseprovidedin

thisPlan,m oniesdepositedintoanyaccountsestablishedandmaintainedbythe

' ReorganizedDebtorunderthePlanshallbeinvestedasspecifiedinthisparagraphand

neednotcomply with Bankrtlptcy CodeSection 345.Any accountsestablishedbythe

ReorganizedDebtorshallbeestablishedatafederallyinsuredfinancialinstitutionormay

beinvestedingovernment-backedsecuritiesinabrokerageaccountapprovedbythe

UnitedStatesTrtlstee.Forinterest-bearingaccounts,anyinterestearneduponbalances

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ondepositinsuchaccountsshallbeusedtpfundthisPlan.TheReorganizedDebtormay

relocateanyorallaccountstoanotherfederallyinsuredfinancialinstitutionorapproved

brokerageaccount,from timetotime,untiiallpaymentsprovidedforunderthisPlan

havebeenmade.

6.3 PavmentofClaim sandInterests.

NotwithstandinganyotherprovisionofthisPlan,theReorganizedDebtorshallmakeno

distributiontoholdersofClaimsthatarenotAllowedClaimsasdefinedinthisPlan.

NotwithstandinganyotherprovisionofthisPlan,theReorganizedDebtorshallhavediscretion

tomakethedistributionscalledforunderthePlanatthetimesspecitiedinthePlan,orearlierif

theReorganizedDebtordeem suchearlierdistributiontobenecessaryorbeneficial.

6.4 DisputedClaims.

ThefollowingprovisionsofthisPlanapplyonlytoClaimsthatareDisputedClaims.

NotwithstandinganyotherprovisionofthisPlan,aDisputedClaim shallnotbedeemedan

AllowedClaim untilsuchClaim becomesanAllowedClaim asprovidedinthisPlan.The

followingprovisions(Paragraphs6.5 6.16)shallnotapplytoclaimstobereviewedbythe

LiquidatingTrusteeandpaidthroughtheGalardiCreditorsTrust,a11asprovidedintheTrust

Agreement,unlessexpresslyprovidedherein,andDebtorspecificallydisclaimsandwaivesany

righttoobjecttosuchclaims.

6.5 PreviouslvDisputedClaimsthatAreSubsequentlvAllowed.

6.5.1 DistributionsonSubsequentlvAllowedClaims.W ithinfourteen(14)days

from thedateofwhichanyorderoftheBankruptcyCourtallowingapreviouslyDisputedClaim

becomesaFinalOrder,withnoappealpending,orifanappealistiled,thedateonwhichall

ordersaffirmingallowanceofsuchclaim sbecom esnon-appealable,theReorganizedDebtor

shallwithdraw from theapplicableDisputedClaimsReserveanamountequaltotheamount

depositedintotheDisputedClaimsReserveonaccountofeachpreviouslyDisputedClaim and

shallthenpaytheholderofsuchpreviouslyDisputedClaim theamountdueonsuchClaim asof

thedateofsuchdistributiontoitsClass.Nointerestshallbepayableonaccountofanydelayed

distributionunlesssuchinterestisadistributionofPost-confirmationlnterestspecificallyset

forthinthePlanandpayableforthatClass.AnyamotlntsintheDisputedClaimsReservenot

paidtoholdersofAllowed,formerlyDisputedClaim s,shallberefundedtotheReorganized

Debtor.

A llow anceofClaim s.

:ExceptasexpresslyprovidedinthisPlan,theReorganizedDebtorafterConfirmation

willhaveandretainaIlrightsanddefensesthattheDebtorhadwithrespecttoanyClaimsasof

thePetitionDate,includingtheCatlsesofActionreferencedinthisPlanandtheDisclosure

Statement,andtheFilingofanymotionsdrotherpleadingsforestimationoftheamountsofany

DisputedClaims,excepttheDisputedClaimsofClass8UnsecuredCreditorswhichwillbe

handledbytheLiquidatingTrusteeinaccordancewiththeTrustAgreement.

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6.7 ExaminationandObiectionstoClaims.

6.7.1 Examination.FollowingtheEffectiveDate,theReorganizedDebtor,shall

examineallClaimsnotpreviousljobjectedtobytheDebtorandshall

havetheresyonsibilityoffilingobjectionstothealowanceofsuchClaims

andcontinulngprosecutionsofobjectionstoClaimsfiledpriortothe

EffectiveDate,otherthanClass8UnsecuredClaim s.

6.7.2 ObiectionDeadlines.Exceptasotherwisespecitiedherein(including,

withoutlim itation,withrespecttoAdministrativeClaim s,FeeClaims,

ExecutoryContractClaims,andClass8UnsecuredClaims),objectionsto

ClaimsshallbeFiledwiththeBankrtlptcyCourtandservedupon

CreditorsbytheClaimsObjectionBarDate,whichshallbenolaterthan

120daysfollowingtheEffectiveDateor120daysaftersuchClaim is

Filed,whicheverdateislater;provided,however,thatthisdeadlinemay

beextendedbytheBankruptcyCourtuponmotionoftheReorganized

'

Debtor,withoutnoticeora'hearing.Afteranorder,judgment,decree,or

settlementagreementalloWingaDisputedClaim becomesaFinalOrder,

DistributionswithrespecttoandonaccountofsuchpreviouslyDisputed

Claim willbem ade.

6.7.3 ClaimsResolution. ObjectionstoClaimsmaybelitigatedtojudgment,

settled,orwithdrawnbytheReorganizedDebtor.TheLiquidatingTrustee

. shallitigatetojudgment,settle,orwithdrawobjectionstoClass8

UnsecuredClaims.

6.7.4 SettlementofDisputedClaimsover$50.000.00.Anyproposedsettlement

ofaDisputedClaim where:theoriginalfaceamountoftheClaim ismore

than$50,000shallbesubjepttotheapprovaloftheBankruptcyCourtaûer

zl-days'noticeandanoppàrtunityforahearinghasbeenservedonthe

SpecialN oticePa/ies.

6.7.5 SettlementofDisputedClaimsbetween$10.000and$50.000.The

ReorganizedDebtormaysettleClaimswheretheoriginalfaceamountof

suchClaim isbetween$10,000and$50,000withoutBankruptcyCourt

approval,providedthattheSpecialNoticePartiesshallhavehad ls-days'

noticeofanysuchproposedsettlementpriortoconsummatingthe

setlement.Ifanobjectiontotheproposedsetlementisservedonthe

ReorganizedDebtorandLiquidatingTrusteeandnotresolved

consensuallywithin 10addltionaldaysafterexpirationofthe15-day

. noticeperiod,theBankruptcyCourtshalldeterminewhethersuch

proposedsettlementshouldbeapproved.

6.7.6 SettlementofDisputedClaimsoflessthan$10s000.lftheoriginalface

amountoftheDisputedClaim islessthan$10,000,theReorganized

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DebtorhasauthoritytosettlesuchClaim withoutanynoticeorapprovalof

;

anyotherparty.

6.8 NoDistributionstoHoldersofDisputedClaims.

NotwithstandinganyotherprovisionofthisPlan,noCashorotherPropertyshallbe

distributedunderthePlanortheLiquidatingTrustAgreementonaccountofanyClaim which is

notanAllowedClaim .

6.9 EstimationofClaims.

TheDebtor,theReorganizedDebtor,theCommittee,ortheLiquidatingTrusteemay,at

anytime,requestthattheBankruptcyCou14estimateanyClaim pursuanttoSection502(c)ofthe

BankruptcyCode,asapplicable,regardlessofwhethertheDebtor,ReorganizedDebtor,

CreditorsCommitee,ofLiquidatingTrusteepreviouslyobjectedtosuchClaim orwhetherthe

BankruptcyCourthasruledonanysuchobjection.TheBankruptcyCourtwillretainjurisdiction

toestimateanyClaim atanytimeduringthelitigâtionconcerninganyobjectiontoanyClaims,

including,withoutlimitation,duringthependencyofanyappealrelatingtoanysuchobjection.

SubjecttotheprovisionsofSection502(j)oftheBankruptcyCode,iftheBankruptcyCourt

estimatesanycontingentorunliqpidatedClaim,theamountsoestimatedshallconstitutethe

AllowedamountofsuchClaim .lftheestimatedamountconstitutesamaximum limitationon

theamountofsuchClaim,theDebtor,ReorganizedDebtor,CreditorsCommitteeorLiquidating

Trusteémaypursuesupplementay proceedingstoobjecttothealowanceofsuchClaim.The

objection,estimation,andresolutlonproceduresareintendedtobecumulativeandnotexclusive

ofoneanother.Claimsmaybeestimatedandsubsequentlyèomprom ised,settled,withdrawn,or

resolvedbyanymechanism approvedbytheBanknlptcyCourt.

6.10 UnclaimedDistributions.

PaymentwillbestoppedonchecksdisbursedbytheReorganizedDebtortoholdersof

AllowedClaimsifsuchchecksremainnotcashedninety(90)daysaûerthedateof

disbursement.TheCashrepresentedbysuchchecksshallbepropertyoftheReorganizedDebtor

pursuanttoSection34741))oftheBankruptcyCodeandshallberefundedtotheReorganized

Debtor.

IfanydistributiononaClass8UnsecuredClaim (stunsecuredDistribution'')istendered

bytheLiquidatingTrusteetoaHolderofaClass8UnsecuredClaim andreturned,refusedor

otherwiseimproperlyreturnedorotherwisenotcashedforaperiodof120days(lûunsecured

DistributionRefusal''),theLiquidatingTrusteeshallnotberesponsibleformakinganyfurther

U nsecured Distribution onaccountofsuch UnsecuredClaim andm ay stop paym entonthecheck

representingsuchdistribution.Accordingly,intheeventofanUnsecuredDistributionRefusal,

theLiquidatingTrusteeshallberelievedofanyobligationtom akesaidpaymentordistribution

andshalldisbursethedistributionproratatotheotherholdersofClass8UnsecuredClaims.

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:6 11 RoundingofDividendAmounts.

1

NotwithstandinganyotherprovisionofthilsPlan, theReorganizedDebtorshallnotbe

requiredtomakeanydistributionoflessthan$5.60totheholderofanyAlowedClaim andmay

roundalldistributionstothenearest$1.00.

6.12 DistributionstotheLastKnownAddress

DistributionstoholdersofAllowedClaimswillbesenttothelastknownaddressset

forthonsuchholder'sproofofClaim FiledwiththeCourt,orontheSchedules,ifnoproofof

Claim hasbeentiled.HoldersofClaimsmaychangetheaddresstowhichdistributions,ifany,

willbesentbyfurnishingwrittennoticetotheReorganizedDebtorinaccordancewithArticleX

hereof.A propernoticeofchangeofaddresswillbeeffectiveforadistributionifreceivedat

least30daysinadvanceofsuchadistributiondate.U.S.Postalnotificationsofchangesof

addresswillbehonored,providedthattheReorganizedDebtorandLiquidatingTrusteeshall

havenoobligationtoinvestigatetheaddressoftheholderofanAllowedClaim following

expirationofsuchU.S.Postalnotifications.

AssicnmentofClaims.

NotwithstandingBankruptcyRule3001(e),writtennoticeofanyassignmentofan

AllowedClaim shallbegiventotheReorganizedDebtorbytheassigneethereofbeforethe '

ReorganizedDebtorshallbeobligatedtodirectdistributionstosuchassignee.Absentreceiptby

theReorganizedDebtorofsuchwrittennoticeofassi'gnment,neithertheReorganizedDebtornor

theEstateshallhaveany liabilitytoanysuchassigneeortoanyotherPersononaccountofa

misdirecteddistribution.

6.14 W ithholdincorotherTaxes.

Anyfederal,state,orlocalwithholdingor'.othertaxesorotheramountsrequiredtobe

withheldunderapplicablelaw shallbedeductedfrom distributionshereunder.Al1Persons

holdingClaimsshallberequiredtoprovideanyiliformationnecessarytoaffectthewithholding

of-suchtayes. p

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ToreceivedistributionsundertheLiquidatingTrust,alIHoldersofaClass8Unsecured

Claim mustprovideevidenceoftheirtaxidentifidationnumberreasonablyacceptabletothe

LiquidatingTrusteewithinsix(6)monthsoftheEffectiveDate.TheLiquidatingTrusteeshall

reportalldistributionsasincometotheappropriatetaxingauthorities.

Setoffs.

' SubjecttotheIimitationsprovidedinSection553oftheBankruptcyCode,theDebtor,

Reorg'anizedDebtor,orLiquidatingTrustee,asapplicable,may,butshallnotberequiredto,

setoffagainstanyClaim andthepaymentsorothprdistributionstobemadepursuanttothePlan

orTrustAgreementinrespectofspchClaim,claimsofanynaturewhatsoevertheDebtormay

haveagainsttheholderofsuchClaim,including,withoutIimitation,ClaimsagainstAffiliates,

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butneitherthefailuretodosonorthealowanceoj-anyClaimhereundershalconstitutea

waiverorreleasebytheDebtor,ReorgtmizedDebtororLiquidatinjTrustee,asapplicable,of

anysuchClaim orotherClaim s,rights,orCausest?fActionthattheDebtor,Reorganized

Debtor,orLiquidatingTrusteem ayhaveagainstsilchholder. '

6.16 SubordinationRichts.

Allsubordinationrights,claims,anddefensesoftheDebtorandReorganizedDebtor

shallremainvalid,enforceable,andunimpairedinaccordancewithSection510ofthe

BankruptcyCodeorotherwise,exceptasotherwisespeciticallyprovidedinthisPlan.

ARTICLE V11

ACCEPTANCE OR REJECTION OFTHE PLAN

VotincaClasses.

TheholdersofClaimsandlnterestsinClajses6,8and9areimpairedunderthePlan,

and,thus,areentitledtovotetoacceptorrejectthePlan.HoldersofClaimsinClass1through5

and7areunimpairedunderthePlanàndaredeemedtoacceptthePlan.

7.2 ClassAcceptanceRequirem ent.

OnlyholdersofClaimsinavotingclassandastowhichanobjectionisnotpendingshall

beentitledtovotetoacceptorrejectthePlanunlesssuchclaimshavebeenestimatedfor

purposesofvoting.A classofClaim sshallhaveacceptedthePlanifitisacceptedbyatleast

two-thirds(2/3)inamountandmorethanone-half(1/2)innumberoftheAllowedClaimsin

suchclassthathavevotedonthePlan.

Noh-consensualConfirmation. !

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lfanyclassofClaimsvotestorejectthePlIanorisdeemedtorejectthePlan,thePlan

shallconstitutearequestthattheBankruptcyCou!'tconfirm thePlanoversuchrejectionin

accordancewithSection1I29(b)oftheBankruptc'yCode.TheDebtorreservestherighttoalter,

amend,modify,revoke,orwithdraw thisPlanortheDisclosureStatement,includinganyexhibit

oratachment,ifnecessarytosatisfytherequirementsofSection1129(b)oftheBankruptcy

Code.

LinuidationAnalysis

IfaplanpursuanttoChajter11isnotconfirmedbytheBankruptcyCourt,theChapter

11casecouldbeconvertedtoaIlquidationcaseunderChapter7oftheBankruptcyCodein

whicheventaChapter7trusteewouldbeelectedorappointed,pursuanttoapplicablegrovisions

èfChapter7oftheBankrtljtcyCode,toIiquidatetheassetsoftheDebtorfordistributlonin

accordancew iththeprioritlesestablished by theBankruptcy Code.

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TheDebtorbelievesthatliquidationunderChapter7oftheBankruptcyCodeorthe

proposedPlanofLiquidationprevlouslyfiledbytheCreditorsCommitteewillresultina

substantialreductioninthevaluetoberealizedbyholdersofClaim sascomparedto

DistributionscontemplatedunderthisPlan.ThisissobecauseaChapter7liquidationwould

D0c4Ol Filed04/10/23

requiretheappointmentofatrustee,unfamiliarwiththedebtor'sbusinessoperationsandthe

eventsthattranspiredduringtheChapter11Caseandwhowouldlikelybeforcedtoclosethe

businesses,therebyreducingthevalueoftheestate.

Main

DebtorbelievesappointmentofaChapter7trusteeorliquidatingtrusteeaspreviously

proposedbytheCreditorsCommiteewouldrequiresubstantialadditionalexpenses(including

TrusteefeesandthecostsassociatedwiththeTrustee'sretentionofattorneysandother

professionals)andwoulddelayorderlyliquidationoftheEstateAssets,therebylowering

recoveriestoholdersofClaims.

Consequently,theDebtorandCommitteebelievethatconfirmationofthisPlanwill

provideagreaterreturntoholdersofClaimsthanqliquidationunderChapter7ofthe

BankruptcyCodeorthePlanofLiquidationpreviouslyfiledbytheCreditorsComm ittee.A copy

oftheliquidationanalysisisattachedtotheDisclosureStatement.4

A RTICLE V l1l

EFFECTSOF CONFIRM ATION

8.1DischarzeofDebtor.

UnderthePlan,theeffectsofConfirmationshallbçasprovidedunderBankruptcyCode

Sections1141(a),(b),(c),and(d)and11U.S.C.j524(a).ConfirmationofthisPlandoesnot

dischargeanydebtprovidedforinthisPlanuntilthecourtgrantsadischargeoncompletionofal1

paymentsunderthisPlan,orysotherwiseprovidedinj1141(d)(5)oftheCodeandinqccordance

withM .D.G.A.LocalBankruptcyRule3022-1(c).

8.2 Post-confirmationEffectofEvidenceofClaims.

;

OntheEffectiveDate,exceptasotherwise'providedinthePlan,a11prom issorynotes,share

certilicates, warants, membership interests, instruments, indentures, agreements, or other

documentsevidencing,givingriseto,orgoverninganyClaim againsttheDebtorshallrepresent

onlytheright,ifany,toparticipateinthedistributionscontemplatedbythisPlan.

411USCj326(a)statesthataChapter7trusteewouldincurtrustee'sfeesequalto25% ofthefirst$5,000of

LiquidationValueofAssets;10% ofamountinexcessof$5,000butnotinekcessof$50,000ofLiquidationValue

ofAssets;5%ofan4amountinexcessof$50,000butnotinexcessof$l,000,000',3%ofanyamountinexcessof

$l,000,000oftheLlquidationValueofAsset,andcommissionsforauctioneersforpersonalpropertygenerallyis

equivalenttoten(l0%)percentofthegrosssalespriceandcommissionsforrealpropertybrokersisgenerallysix

percent(6%)ofthegrosssalesprice.Inaddition,theatorneyfortheChapter7trusteewouldincurattorney'sfees

aswouldtheattorneysfortheDebtorandCreditorsCommitee.

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.3 ExculpationandLim itationofLiabilitv.

TheDebtor,theReorganizedDebtor,theçommitteeandeachoftheirrejpective

members,affiliates,officers,directors,agents,attàrneys,andemployees(including

Professionals)(collectively,thetdExculpatedPersons'')shallneitherhavenorincuranyliability

toanyPersonorEntityforanyacttakenorom ittedtobe.takenbyanyExculpatedPeràonin

connectionwithorrelatedtotheformulation,negotiation,preparation,dissem ination,

implementation,adm inistration,Confirmation,orconsummationofthisPlan,theDisclosure

Statement,oranycontract,instrument,release,orotheragreementordocumentcreatedor

enteredintoinconnectionwiththisPlan(exceptforanyobligationsoftheReorganizedDebtor

ortheEstatearisingunderthisPlanorintheOrdiparyCourseofBusiness).Exceptfor

obligationsarisingunderthisPlanonorafteritszffectiveDate,theExculpatedPersonsshal

havenoliabilitytoanyDebtor,holderofaClaim,holderofanlnterest,otherpartyininterestin

theBankruptcyCase,oranyotherPersonforactionstakenornottakenunderthisPlan,in

connectionherewithorwithrespecthereto,orarisingoutoftheiradm inistrationofthisPlanor

thepropertytobedistributedunderthisPlan,includingfailuretoobtainConfirmationofthis

Planortosatisfyanyconditionorconditions,orrefusaltowaiveanyconditionorconditions,to

theoccurrenceoftheEffectiveDate,andinaIIrespectssuchExculpatedPersonsshallbeentitled

torelyupontheadviceofcounselwithrespecttotheirdutiesandresponsibilitiesunderthisPlan

orwithrespecttotheBankruptcyCase.Provided,however,thattheforegoingprovisionsofthis

paragraphshallhavenoeffectontheliabilityofanyExculpatedPersonthatresultsfrom any

suchactoromissionthatisdeterminedinaFinalOrdertohavedonstitutedfraudorotherwillful

misconduct.

8.4 TermsBindinc.

UpontheentryoftheConfirmationOrder,alprovisionsofthisPlan,includinga1l

agreements,instrum ents,andotherdocumentsfiledinconnectionwiththisPlanandexecutedby

theDebtorortheReorganizedDebtorinconnectionwiththisPlan,shallbebindinguponthe

ReorganizedDebtor,allClaim holders,andallotherPersonsthatareaffectedinanymannerby

thisPlan.Allagreements,instruments,andotherdocumentsfiledinconnectionwiththisPlan

shallhavefullforceandeffectandshallbindallpartiestheretoasoftheentryofthe

ConfirmationOrder,whetherornotsuchexhibitsactuallyshallbeexecutedbypartiesotherthan

theDebtorortheReorganizedDebtor,orshallbeissued,delivered,orrecordedontheEffective

Dateorthereaûer.

ContinuationofPre-confirmationIniunctionorStavs.

Allinjunctionsorstays,whetherbyoperationoflaw orbyorderoftheBankruptcy

CourqprovidedforintheBankruptcyCasepursuanttoSectionsl05,362,or525ofthe

BankruptcyCodeorotherwisethatareineffectontheConfirmationDateorimposedbythe

ConfirmationOrdershallremaininfullforceandeffectuntiltheFinalDecree.

8.6 Non-recognitionofUancellationofDebtIncomebvtheDebtor

Alldebtsdischargedorrendereduncollectiblefrom theDebtorunderthisPlanorarising

outoforrelatedtotheBankruptcyCaseshallnotbeincludedinthegrossincomeoftheDebtor

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ascapcellationofdebtincomepursuantto26U.S'I.C.j108,andtheDebtorshallincurnoincome

taxliabilityonaccountthereof ;

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8.7 ConditionsPrecedenttoEffectiveDate.

TheEffectiveDateshallnotoccurandthePlanshallnotbecom eeffectiveunlessand

untiltheConfinnationOrderisenteredandnotsubjecttoanystayofinjunction.

ARTICLE IX

RETENTION OF JURISDICTION

ContinuincJurisdiction.

Notwithstandingentl-yoftheConfirmationOrderandtheoccurenceoftheEffective

Date,untilsuchtimeasallpaymentsanddistributionsrequiredtobemadeandallother

obligationsrequiredtobeperformedunderthisPlanhavebeenmadeandperform edbythe

ReorganizedDebtorandtheBankruptcyCaseisclosedbyFinalDecree,theBankruptcyCourt

shallhaveandretainthemaximumjurisdictionakislegalypermissible,including,without

limitation,jurisdictionovertheReorganizedDebior'assets(includingthePropertyandthe

CausesofAction),theReorganizedDebtor,theGalardiCreditorsTrust,theLiquidatingTrustee,

andtheEstateforthefollowingpurposes:

(a) Claims.Todeterminethegllowance,classification,validity,priorityotlor

anydisputewithrespecttoClaimsagainsttheDebtoruponmotionbytheReorganized

!

Debtor,theLiquidatingTrustee,oranyotherpartyininterest;

(b) Iniunction.etc.Toissueinjunctionsortakesuchotheractionsormake

suchotherordersasmaybenecessaryorappropriatetorestraininterferencewiththePlan

oritsexecutionorimplementationbyanyPerson,toconstrueandtotakeanyotheraction

toenforceandexecutethePlan,theConfirmationOrder,oranyotherorderofthe

BanknlptcyCourt,toissuesuchordersasmaybenecessaryfortheimplementation,

execution,performance,andconsummationofthePlanandallmattersreferredtoherein,

andtodetermineaIlmattersthatmaybependingbeforetheBankruptcyCourtinthe

BankruptcyCasesonorbeforetheEffectiveDatewithrespecttoanyEntity;

(c) ProfessionalFees.Todetermine,beforeoraftertheEffectiveDate,any

andallapplicationsforallowanceofcompensationandexpensereimbtlrsementof

ProfessionalsforservicesrenderedbeforetheEffectiveDate,asprovidedforinthePlan;

(d) CertainPrioritvClaims.TodetermineanyPriorityTaxClaims,Non-Tax

:Priority Claim s,orany requestforpaym entofAdm inistrativeClaim s;

. (e) DisnuteResolution.Toresolveanydisputearisingunderorrelatedtothe

implementation,execution,consummation,orinterpretationofthePlanandthemaking

ofdistributionsthereunder,including,withoutlim itation,anydisputeconcerning

paymentofProfessionalfeesandexpensesoftheReorganizedDebtor',

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(9 LeasesandExecutoryContracts.Todeterminetheallowanceofany

Claimsorotherdisputesresultingfrorpth1rejectionofExecutoryContractsand

unexpired leases; h

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(g) Actions.Todeterminea1lapplications,motions,adversaryproceedings,

contestedmatters,actions,andanyotherlitigatedmattersinstitutedpriortotheclosingof

theBankruptcyCases,includingthedeterm inationofallcontroversiesanddisputes

arisingunderandinconnectionwiththeDebtor'sProperty,theCausesofAction,assets,

andanyremands;

(h) PlanM odification.TomodifythePlanunderSection1l27ofthe

BankruptcyCodeandremedyanydefect,cureanyomission,orreconcileany

inconsistencyinthePlanortheConfirmationOrder,soastocarryoutitsintentand

purposes'

(i) AidConsummation.Toissuesuchordersin'aidofconsummationofthe

PlanandtheConfirmationOrdernotwithstandinganyotherwiseapplicablenonbankruptcylaw,withrespecttoanyEntit#,tothefullextentauthorizedbythe

BankruptcyCode;

U) ImnlementationofContirmationOrder.Toenterandimplementsuch

ordersasmaybeappropriateintheeventtheConfirmationOrderisforanyreason

stayed,revoked,modified,orvacated; '

(k) GeneralMaters.Todetermineal1suchothermatters,andforsuchother '

purposes,asmaybeprovidedintheConfirmationOrder,thePlan,orasotherwisemay

beauthorizedornotinconsistentwiththeprovisionsoftheBankruptcyCode;

(l) FinalDecree.Toenteranorderand/orFinalDecreeclosingthe

Bankruptcy Cases.

(m) GalardiCreditorsTrust.Todeterminea1lmatersregardingorrelatedto

theadministrationoftheGalardiCreditorsTrust.

ARTICLE X

M ISCELLANEOUSPROVISIONS

10.1 Pre-confirmationM odification.

ThePlanmaybealtered,amended,ormodifiedbytheproponentbeforetheConfirmation

DateasprovidedinSection 1I27oftheBankruptcyCode.

Post-confirmationlmmaterialM odification.

NotwithstandinganyotherprovisionofthisPlan,theReorganizedDebtorandthe

LiquidatingTrustee,asapplicable,may,w ithoutapplicationtoorspecificauthorizationbythe

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Coul'prepayanyAllowedClaim providedforuliderthisPlaninwholeorinpartatanytime, or

enterintoanagreem entwithanysuchHolderforotherorlessertreatmentorpaym entofsuch

claim otherthanprovidedunderthisPlan.TheDebtors,ReorganizedDebtors,andthe

LiquidatingTrusteemay,withtheapprovaloftheBankruptcyCourtandwithoutnoticetoall

holdersofClaimsandInterests,insofarasitdoesnotmateriallyandadverselyaffecttheinterest

pfholdersofClaims,çorrectanydefect,omission,orinconsistencyinthePlaninsuchmanner

andtosuchextentasmaybenecessarytoexpediteconsummationofthisPlan.

Post-confirmationM aterialM odification.

ThePlanmaybealteredoramendedafterjtheConfirmationDatebytheReorganized

Debtorinamannerwhich,intheopinionoftheBankruptcyCourt,materiallyandadversely

affectsholdersofClaims,providedthatanysuchalterationormodificationtooraffectinga

settlementagreementmaybemadeonlywiththepriorwrittenconsentofallpartiestosuch

setlementagreement(whichsuchsetlementagréementsshallincludethetreatmentofClass8

UnsecuredClaim snegotiatedbetweentheDebtoc:andtheComm itteeandwhichshallrequirethe

CommitteeorLiquidatingTrustee'spriorwrittenconsenttomattersaffectingtheClass8

UnsecuredClaimsortheGalardiCreditorsTrust)

1.andanyothermodificationtothePlanismade

afterahearingasprovidedinSection1l27ofthelBankruptcyCode.Subjecttotheforegoing

provisionsofthisSection l0.3,notwithstandingtheadministrativeclosingoftheCase,the

ReorganizedDebtorm ayproposeamendmentsormodificationstothisPlanatanytimepriorto

orsubsequenttoConfirmationinaccordancewiththeBankruptcyCodeandapplicable

BankruptcyRules.lftheBankruptcyCasehasbeenclosed,suchmodificationmaybeapproved

andbindingupontheholdersofa11claimsprovidedunderthisPlan,withoutreopeningthe

BankruptcyCase,asfollows:

(a) TheReorganizedDebtorshallgivewritennoticeoftheproposed

m odificationtotheremainingholdersofallClaimsprovidedforunderthisPlanthathave

notbeenpaidinfullatthetimeofsuchmodification.Suchnoticeshallprovidethatthe

holdersofsuchClaimsmayapproveorrejeitthemodificationwithinforty-five(45)days

from thedateofthemailingofsuchnotice.Theproponentofthemodificationshallm all

aBallottoeachclaimantwithsuchNotice.

(b) OnlyBallotswhicharecolppletedandreturnedwithintheforty-five(45)

dayperiodshallbecountedindeterminingwhetherCreditorshaveapprovedsuch

modification.Suchm odificationshallbedeemedacceptedandbindinguponall

. rem ainingclaimantsinanyClasswhichacceptsuchmodificationbyatotaloffifty-one

percent(51%)oftheClaimsvotingonaccountofsuchmodification,providedsuch

votingclaimsconstitutetwo-thirds(2/3)oftheoutstandingremainingClaimsinsuch

Class.

(c) lfsuchmodificationissoaccepted,themodificationshallbedeemed

contractuallybindingtlponaIImembersoftheaffectedClass.

(d) OnlymembersofanyClassofClaimsaffectedbysuchmodificationshall

beentitledtovote.

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!

I ' 10.4 WithdrawalorRevocationoftheIilan. '

' j

'. ! Th 1 .

eDebtorandCommitteejointlyreservestherighttorevokeorwithdraw thePlanprior

toConfirmation. '

10.5 Exemptionfrom TransferTaxes.

PursuanttoSection1146(a)oftheBankruptcyCode,theConfirmationOrder,andany

saleordersenteredintheBankruptcyCase,thetransferormakingordeliveryofany.instrument

whatsoeverinfurtheranceoforinconnectionwitflthePlanandGalardiCreditorsTrust, I

including,withoutlimitation,anytransferoftheAssets,subsequenttransferstocreditorsor i

purchaserts),andanyassignments,documents,instruments,andagreementsandother

conveyancedocumentsexecutedanddeliveredbytheReorganizedDebtororLiquidating

TrusteeinconnectionwiththesaleoftheAssetsinfurtheranceoftheimplementationofthePlan

andGalardiCreditorsTrustorothem ise,shallnotbesubjecttoanystamp,realestatetransfer,

personalproperty,recording,orothersimilartax.Anyconveyanceofrealpropertymadeas

providedunderthisPlanorGalardiCreditorsTrustorinfurtheranceofthisPlanandGalardi

CreditorsTrustshallincludethenotation:Qnl-hisït?-ç/rl/?pc?7/isexempth'om TransferTaxesby

virtueofllUS.C.J./146(a).,t !

I

10.6 PavmentofCompensationtoProflssionalPersonsforServicesRenderedafter

Confirmation.

Compensationandreimbursementofexpensesearnedandincurredbyprofessionals

performingservicesfortheReorganizedDebtorafterconfirmationofthePlanshallbepaidby

theReorganizedDebtormonthlyaherrenditionofbillstotheReorganizedDebtor,andno

furtherapplicationsforcompensationorreimbursementofexpensesshallbenecessaryor

requiredunlejsadisputearises.lntheeventofapysuchdispute,thesameshallberesolvedby

thebankruptcycourtaûernoticeandhearing. .

10.7 FinalDecree.

NotwithstandinganyotherprovisionofthisPlan,theFinalDecreeshallbeenteredupon

substantialconsummationofthePlan,notwithstandingthatallpaymentsunderthePlanhavenot

beenmadeorarenotyetdue.

10.8 EffectuatinaDocuments-Further'fransactions.andCorporateAction.

TheDebtor,theReorganizedDebtor,alIholdersofAllowedClaimsreceiving

distributionsunderthisPlan,theLiquidatingTrustee,andallotherpartiesininterestshall, from

timetotime,prepare,execute,anddeliveranyagreementsordocumentsandtakeanyother

actionsasmaybenecessaryoradvisabletoeffectuatetheprovisionsandintentofthisPlan.

l0.9 ReservationofRisqhts.

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Exceptasexpresslysetforthherein,thePlbnshallhavenoforceoreffectunlessthe

BankruptcyCourtshallentertheConfirmationOrderandtheConfirmationOrdershallcontinue

tobeipeffect.ThetilingofthisPlan,anystatement,orprovisioncontainedinthisPlan,orthe

takingofanyactionbytheDebtororReorganizedDebtor,shallnotbeandshallnotbedeem ed

toàeanadmissionorwaiverofanyrightsoftheDebtororReorganizedDebtorwithrespectto

theholdersofClaimsorEquitylnterestsorotherwise.

10.10 SuccessorsandAssians.

Therights,benefits,andobligationsofanyPersonorEntitynamedorreferedtointhe

Planshallbebindingon,andshallinuretothebenefitotltheheirs,executors,administrators,

successors,and/orassignsofsuchEntities.

10.11 GovernincLaw.

E 1

xcepttotheextentthattheBankruptcyCodeisapplicable,therem ainingrightsand

obligationsarisingunderthisPlanshallbegoverqedbyandconstruedandenforcedin

accol-dancewiththelawsoftheStateofGeorgia.ij .

;

10.12 Notices.

10.12.1 UnlessarecipientofanoticerequiredunderthisPlanhas

'

consentedtoreceivesuchnoticeelectronically,aIlnotices,requests,orothercommunications,

requiredorpermittedtobemadeinaccordancewiththisPlan,includinganychangeofaddress

ofany'Personforthepurposeofreceivingdistribptions,shallbeinwritingandshallbedelivered

(a)persohally,(b)byfacsimileoremail(confirmedbyfirstclassmailorexprqssmail),or(c)

mailedbyfirstclassmail.

10.12.2 Anysuchnoticeshqlbedeemedtohavebeengivenwhen

receivedor,ifmàiledbyfirstclassmail,sevendaysafterthedateofmailing,postageprepaid, or,

ifexpressmailed,thenextbusinessdayafterthedateofmailing,orifsentbyfacsim ileoremail,

uponconfirmationofreceiptbytherecipient;orovided,however,thatapropernoticeofchange

ofaddresswillbeeffectiveforadistributionifreceivedatleast30daysinadvanceofsuch

distributiondate. -

10.12.3 Noticesshouldbeaddressedasfollows:

(a) IftotheReorganizedDebtor:

TeriG .Galardi

2146Hwy 42 South

Flovilla,Georgia30216

W ith acopvto:

LouisG .M cBryan

M CBRYAN ,LLC

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I

6849PeachtreeDunwoodyRoad .

BuildingB-3,Suitel00

Atlanta,Georgia30328

'

. lmcbrvan@mcbryanlaw.com

CounselforDebtor

And acopvto:

ChristopherW .Terry

BOYER TERRY LLC

348CottonAvenue,Suite200

M acon,Georgia31201

chris@boverterrv.com

CounselforDebtor

(b)lftotheCommiitee:

ShadanaDeleston

c/oM utepeAkemon

P.O.Box360295

. Decatur,GA 30036

mutepe.akemon@ richardslezal.com

AbreyLeahong

c/oM utepeAkemon

P.O.Box360295

Decatur,GA 30036

mutene.akemon@richardsleaal.com

AddieBrooks

c/oAinsworthDudley

4200NorthsideParkway,1-200

Atlanta,GA 30327

adtldlevlaw@gmail.com

JONES& W ALD EN ,LLC

699PiedmontAveN E

Atlanta,GA 30308

tmcclendon@ 'loneswalden.com

CounselfortheCom m ittee

(b) lftoanyholderofanAdministrativeClaim,aPriorityTax

Claim oraClaim ofanyClass,attheirIastknownaddresssetforthona

ProofofClaim orontheSchedules,ifnoProofofClaim hasbe'enfiled.

40 I

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(c) lftoanyothprPersonsentitledtonotice,attherespective

addressesthatsuchPersonkentitledtonoticehaveprovidedtothe

ReorganizingDebtor. i

10.12.4 Anypartym aychangetheaddressatwhichitistoreceivenotices

underthePlanbyfurnishingwrittennoticepursuanttotheprovisionsofthisArticleX tothe

Entitytobechargedwithknowledgeofsuchchanges.

10.13 Conflicts. .

TotheextentanyprovisionoftheDisclosureStatement,and anydocumentsexecutedin

connectionwiththeConfirmationOrder(oranyexhibits,schedules,appendices,supplements,or

amendmentstotheforegoing),conflictwithorisinanywayinconsistentwiththetermsofthis

Plan,thetermsandprovisionsofthisPlanshallgovernandcontrol.

10.14 Severabilitv.

1f 1

, followingConfirmationofthisPlan,anyprovisionofthisPlanisdeterminedtobe

unenforceableinwholeorinpart,eitherfaciallyorapplied,suchdeterm inationshallinnoway

lim itoraffecttheenforceabilityoroperativeeffectofanyotherprovisionofthePlanorrequire

there-solicitationofanyacceptanceorrejectionofthePlan,unless,intheabjenceofsuch

provision,thisPlanwouldfailofitsessentialpurpose,asdeterminedbytheBankruptdyCoul't.

Uponsuchafinding?theDebtor'periodofexclusivitywithipwhichtofileanamendedplan

shallbereinstatedforaperiodof60daysfrom thedatesuchafindingbecomesaFinalOrder,

andtheDebtor'periodofexclusivityforsolicitationofacceptancesshallbeenlargedfor105

daysfrom thedatesuchafndingbecomesaFinalOrder.

10.15 PriorOrdersareSupersededbvPlanProvisions.

ExceptasotherwiseexpresslyprovidedbyapreviousorderoftheCourt,thisPlanand

theorderconfirmingthisPlanexpresslysupersedeallordersenteredduringthependencyofthis

caserelatingtocashcollateraloradequateprotectiontotheholderofanyclaim .Upon

confinnationofthisPlan,suchordersshalbeofnofurtherefect,exceptthatanyrejlacement

lienorsecurityinterestgrantedtherebyshallbedeemedascontinuingfrom thePetitlonDate,

untilandincludingtheclaim associatedwithsuchlienorsecurity interesthasbeenpaidinfull.

IN W ITNESSW HEREOF,theundersignedhavecausedthisPlantobedulyexecutedas

ofthedatewrittenbelow,whichexecutionmaybeinmultipleidenticalcounterparts.

lsignaluresop/tpptns/?'?gr/gc../

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Datedthis10thdayofApril2023

. !

TERIG.GALARDI TheOfficialCom mitteeofUnsecured

Creditors

/s/TeriG.Galardi

Debtor Js/shadenaDeleston(bvM uteneAkemon

ti.çnroxvholder)

ShadanaDeleston

By:M utepeAkemon,asProxyHolder

M ember, Comm ittee of Unsecured

CreditorsofTeriG.Galardi

/s/AbrevLeahonqmvM utepeAkemonas

nroxvholder)

AbreyLeahong

By:MutepeAkemon,asProxyHolder

M ember, Committee of Unsecured

CreditorsofTeriG.Galardi

Js/Addie Srtpt?kç(bv Ainsworth Dudlev

asproxvholder)

AddieBrooks

By:AinsworthDudley,asProxyHolder

M ember, Committee of Unsecured

CreditorsofTeriG.Galardi

JONES& W ALDEN,LLC

/s/ThomasT M cclendon

LeonS.Jones

GeorgiaBarNo.003980

ThomasT.M cclendon

GeorgiaBarNo.431452

699PiedmontAvenue,NE

Atlanta,Georgia30308

(404)564-9300

liones@ioneswalden.com

tmcclendon@l'oneswalden.com

At4orneysforComm itteeofUnsecured

Creditors

M CBR YAN,LLC

Js/LouisG.M cBrvan

LouisG.M cBryan

6849PeachtreeDunwoodyRoad

BuildingB-3,Suite100

A tlanta,Georgia30328

(678)733-9322

lmcbryan@mcbryanlaw.com

CounselforDebtor

BOYER TERRY LLC

/s/ChristopherJ'FITerrv

ChristopherW .Terry

348CottonAvenue,Suite200

M acon,Georgia31201

(478)742-648l

chris@boverterrv.com

CounselforDebtor

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SCHEDJJLE1

TO

PLAN OFREORGANIZAMIONOFTHEDEBTOR

DEFINED TERM S

AsusedinthePlanandintheaccompanyingDisclosureStatem ent,capitalizedterms

havethemeaningssetforthbelow.Anyterm thatisnototherwisedefinedherein,butthatis

usedintheBankruptcyCodeortheFederalRulesofBankruptcyProcedure,willhavethe

meaninggiventothatterm intheBankruptcyCobeortheBankruptcyRules,asapplicable.

7

1.1 'W dministrativeClaim''meansPost-petitionObligationsevidencingarightto

paymentforcostsandexpensesofadministrationallowedunderSections507(a)and503(b)and

othem iseundertheBankruptcyCode,including,butnotIimitedto:(a)FeeClaimsincluding

reimbursementofexpensesawardedorallowedunderSections330(a)or331oftheBankruptcy

CodeorotherwisearisingunderthisPlan;(b)planexpensesandtheactualandnecessarycosts

andexpensesincurredafterthePetitionDateofpreservingtheEstateandoperatingthebusiness

oftheDebtor;(c)CureCosts;(d)payrollobligations;and(e)aIlfeesandchargesassessed

againsttheDebtor'sEstateunderChapter123ofTitle28oftheUnitedStatesCode,28U.S.C.

Sections1911-1930.Exceptasotherwiseprovidedherein,AdministrativeClaimsmustbe

allowedbyOrderoftheBankruptcyCourt. .

1.2 GW dministrativeClaim BarOrder''meansanOrderoftheBankruptcyCourt,tobe

enteredatthetimeotlorasaprovisionoftheConfirmationOrder,settingaBarDateforthe

filingofrequestsforallowanceofClaimsforAdministrativeExpensestowhichsuchBarDateis

applicableunderthetermsofthisPlan.

1.3 SsAffiliate''shalhavethemeaningsetforthinSection101(2)oftheBankruptcy

Code.

1.4 (W llowedClaim''means:

(a) Claim thathasbeenIistedbytheDebtoronherSchedules,asfiled

orassubsequentlyamended,asotherthandisputed,contingent,orunliquidated,

totheextentthatitisnototherwiseaDisputedClaim;

(b) Claim forwhichaProofofClaim hasbeenFiledbytheapplicable

BarDateorhasotherwisebeendeemedtimelyFiledunderapplicablelaw,tothe

extentthatitisnototherwiseaDisputedClaim;or

(c) Claim thatisallowed:(i)inanyStipulationofAmountandNature

ofClaim executedbythcDebtorortheReorganizedDebtor,asapplicable,and

Creditor',(ii)inanycontract,instrument,orotheragreemententeredintoin

connectionwiththePlan;(iii)inaFinalOrder;or(iv)pursuanttothetermsofthe

Plan.

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(d) N 1

otwithstandinganyotherprovisionofthisPlan,noAllowed

Claim mayincludeanyclaim forstatutoryattorneys'feesunderO.C.G.A.j13-1-

11.

1.5 GAllowed...Claim''meansanAllowedClaim intheparticularClassorcategory

specified.

1.6 GW llowedPrioritvTaxClaim ''meansanAllowedClaim thatisaPriorityTax

Claim,exceptthatsuchclaim shalnotincludeany interestorpenaltyaccruingafterthePetition '

Date,exceptasspecificallyprovidedforinthePlan.

1.7 KAllowedSecuredClaim''m eanstheamountofeachAllowedClaim againstthe

Debtorwhichisequalto:(a)theamountstipulatedasconstitutingtheAllowedSecuredClaim

betweentheDebtorandtheholderofsuchclaim,(b)theamountfoundtoconstitutesuch

AllowedSecuredClaim bytheBankruptcyCourt,or(c)thelesserof(i)thetotalamountof

indebtednessowedtotheholderofsuchclaim;or(ii)thevalueofanypropertyoftheEstateor

proceedsthereofwithrespecttowhichsuchcreditprheldasecurityinterestorjudgmentlien

properlyperfectedunderthelawsoftheapplicablejurisdictiononthePetitionDate,andonthe

EffectiveDatetotheextentprovidedunderllU.S.C.Section506.

1.8 GçAllowedUnsecuredClaim''meansanAllowedClaim thatisanUnsecured

Claim.

1.9 çW ssettsl''m eana11PropertyoftheDebtorandtheEstateandallCausesofAction

ofthe Debtorand theEstate,allofwhich shallbe deemed to beretained and preserved for

enforcementandunderthecustodyandcontroloftheEstateandtheDebtor,asapplicable,through

the Reorganized Debtor,asthe authorized representative ofthe Debtorand the Estate,and

administeredbytheReorganizedDebtorasoftheEffectiveDate,asfurthersetforthherein.

1.10 (çBallot''meansaballotfiledintheBankruptcyCase,withinthetim esetbythe

CourtforfilingsuchBallots,acceptingorrejectingthisPlan.

1.11 ûtBallotingReport''meansareportofallvalidballotsfiledbytheDebtorpriorto

' theConfirmationofthisPlan,asrequiredbytheLocalRulesoftheBankruptcyCourt.

l.12 StBankruptcvCase''meansthatcertaincasetiledintheUnitedStatesBankruptcy

CourtfortheM iddleDistrictofGeorgia,M aconDivisionbytheDebtortlnderChapter11ofthe

BankruptcyCodecaptionedlnre..TeriG.Galardi;Chaplerl1,CaseNo. 22-50035-..116. '

1.13 ûlBankruptcvCausesofAction''meansalIcausesofactionavailabletotheDebtor

asDebtor-in-possessionintheBankruptcyCase,including,butnotlimitedto,aIlotherClaims,

actions,avoidingpowers,rightsofrecoveryrsubordinationrights,orotheractionsagainst

Insidefsand/orany otherPersonsorEntitiesunderthe Bankruptcy Code, includingSections505,

510,542,543,544,545,547,548,549,550,551,and553oftheBankruptcyCodeoranyother

applicablefraudulentconveyance,fraudulenttransfer,orpreferenceorotherwiseunderthe

BankruptcyCode,orotherwisearisinginlaw,equity,oradm iralty,andmaintainablebythe

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1.

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Debtor-in-possessionandtheReorganizingDebtoltfortherecoveryofmoneyorproperty,

! seekingmodification,disallowance,re-characterization,orequitablesubordinationofClaim s,or

otherrelief

1.14 ççBanknmtcvCode''ortscode''meanstitle11oftheUnitedStatesCode.

1.15 'LBankruptcvCourt''meanstheUnitedStatesBankruptcyCourtfortheM iddle

DistrictofGeorgia,M aconDivision.

1.16 GçBankruptcvRules''orilltules''mean,collectively,theFederalRulesof

BankruptcyProcedureandtheLocalRulesoftheBankruptcyCourt,asnow ineffectwith

respecttotheBankruptcyCase.

1.17 'KBarDate''meanstheapplicablebardatebywhichaProofofClaim,proofof

Interest,Ballot,orNoticemustbeormusthavebeenFiled,asestablishedbyanorderofthe

BankruptcyCourt,BankruptcyCode,orBankruptcyRules,includingtheBarDateOrderandthe

ConfirmatlonOrder.

1.18 ççBarDateOrder''means,asapplicable,theConfirmationOrderortheOrder

EstablishingBarDatesforFilingProofsofClaims,proofsoflnterests, Ballots,orNotices,

enteredbytheBankruptcyCourt,asthesamemayhavebeenormaybeamended,m odified, or

supplemented.

1.19 lscash''m eanscash,cashequivalentsandotherreadilymarketablesecuritiesor

instruments,including,withoutlimitation,directobligationsoftheUnitedStatesofAmericaand

certificatesofdepositissuedbyfederalyinsuredb!anks.

1

1.20 if ausesofAction''includesallClàims,actions,chosesinaction,causesof

action r , suits,debts,d.ues,supsofmoney,accounty,reckonings,bonds,bills,specialties,

covenants,contracts,controversies,agreements,piom ises,variances,trespasses,damages,

judgments,third-partyclaims,counterclaims,andcrossclaims,oranyotherclaimswhatsoever

oftheDebtor,theholdersoflnterestsintheDebtor(butonlywithrespecttoCausesofActionof

suchlpterest-holdersagainsttheDebtoronaccountoforarisingoutofownershipofsuch

lnterests)and/ortheEstatethatareormaybependingontheEffectiveDateorinstitutedbythe

DebtorortheReorganizedDebtor,eitherbeforeoraftertheEffectiveDateagainstanyPersonor

Entity,'including,withoutlim itation,BankruptcyCausesofActionorClaimsagainstAffiliates,

whether undertheBankruptcyCode,orotherwise, whetherdirect,indirect,derivative,or

othenyise,andwhetherassertedorunasserted,knownorunknown,suspectedorunsuspected,

wheneverarising,whetherpriorto,on,oraftertheEffectiveDate,andofanycharacterorkind

whatsoever,whetherbasediricontract,intort,orotherwise,at1aw orinequityorunderany

othert'heoryoflaw, including,butnotlimitedto,(a)thoseactionsgenerallyorspecifically

retainçdordiscussedintheDisclosureStatementorPlan;(b)BankruptcyCausesofAction;(c)

ComlùercialTortClaims;(d)rightsofsetoff,counterclaim orrecoupment,andclaimson

contractsorforbreachesofdutiesimposedbyIaw;(e)therighttoqbjecttoClaimsorinterests;

(9claimspursuanttoSection362oftheBankruptcyCode;(g)suchclaimsanddefensesas

fraud,mistake,duress,usul-y;and(h)anyothertheory,withoutlimitationandallotherclaims

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arisingoutoforrelatedtoanyoftheforegoingorpiscoveredduringorasaconsequenceofthe

pursuitofanyoftheforegoing.AsusedinthePlan,CausesofActionisintendedtohavethe

broadestpossiblemeàningtoensuretheabilityoftheDebtor,ortheReorganizedDebtorto

pursueanyavailableactionsupportedinfact,lnIaw,inequity,inadm iralty,orotherwise, and

noneofthespecificexamplesprovidedhereinshallbeconstruedaslim itingthescopeor

meaningofsuchterm .

1.21 çtlaim''meansçltheterm claim,''asdetinedinSection10145)oftheBanlcruptcy

Code,againsttheDebtororinfavoroftheDebtorortheEstateagainstthirdparties.

1.22 tf laimsacainstAfliliates''include:alICausesofActionavailabletoDebtorasa

debtor-in-possessionintheBankruptcyCaseagainstAffiliatesorlnsiders,including,butnot

limitedto,a1lClaims,actions,avoidingpowers,rightsofrecovery, subordinationorrecharacterizationrightsorotheractionsagainstlnsidersorAffiliatesundertheBankruptcyCode,

includingSections505,510,542,543,544,545,547, 548,549,550,551,and.553ofthe

BanlcruptcyCodeoranyotherapplicablefraudulentconveyance,fraudulenttransfer, or

preferencestatute,rule,regulation,orordinanceorotherwiseundertheBankruptcyCodeor

othelw isearisinginlaw,equity,oradmiralty,andmaintainablefortherecoveryofm oneyor

property,seekingm odification,disallowance,re-characterization,orequitablesubordinationof

Claims,orotherrelief.

1.23 çGclaimsObiectionBarDate''meansthelatestof:(a)thirty-five(35)days

followingtheEffectiveDate;(b)120daysaûertheFilingofaProofofClaim forsuchClaim;(c)

suchotherperiodoflimitationasmaybespecificallyfixedbythePlan,theConfirmationOrder,

theBankw ptcyRules,oraFinalOrderforobjectingtotheapplicableClaim;and(d)suchlater

dateasprovidedforbyorderoftheBanlcruptcyCourt,whichordermaybeenteredwithout

ftlrthernotice.

1.24 Gf lass''meansaclassofClaimsorInterests,asdescribedinArticle11ofthis

Plan.

l.25 çfollateral''meansanypropertyoftheDebtorthatissubjecttoavalidand

enforceablelientosecureaClaim.

l.26 itcommercialTortClaims''meansanytortclaim oftheDebtorarisingin

connectionwiththeDebtor'soperations,formation, acquisitionofhisassets,orotherwise

including,butnotlimitedto,claimsforprofessionalmalpractice, directororofficerIiability,

trespasstorealorpersonalproperty,negligentconstruction,interferencewithexistingor

prpspectivecontractualrightsorrelationships,orviolationsofthebankruptcyautomaticstay.

' t fi

l.27 Con rmation''meanstheentryoftheConfirmationOrderonthedocketofthe

BankruptcyCourtwithinthemeaningofBankruptcyRules5003and9021.

l.28 çf onfirmationDate''meansthedateofConfirmation.

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1.29 tsconfirmationHearina''meansthehearingheldbytheBankruptcyCourton

Conlirm ationofthePlan,assuchhearingmaybecontinuedfrom timetotime.

; .

'1.30 'icontirmationOrder''meanstheorderoftheBankruptcyCourtconfirmingthe

PlanpursuanttoSection 1129oftheBankruptcy Code.

'1.31 Gscreditor''meansanyPersonthatistheholderofaClaim againstanyofthe

Debtor.

1.32 ''CreditorsCommittee''orGscommittee''meansTheOfficialCommitteeof

UnsecuredCreditorsappointedbytheCourtinthisBankruptcyCase.

1.33 ttcureCosts''meanssuchamountasmaybefoundbytheBankruptcyCourttobe

duetotheholderofanExecutoryContracttoassumeanExecutoryContractinaccordancewith

l1U.S.C.j365.

1 i .34 ElDebtor''m eansTeriG.Galardi,DebtorandDebtor-in-possessionunderthe

BankruptcyCaseandasDebtorandDebtor- I in-possessionundertheBankruptcyCode.

11

1.35 Sr eficiencvClaim''meanstheAllo'wedUnsecuredClaim heldbytheholderofan

AllowedSecuredClaim aûertreatmentofsuchAllowedSecuredClaim asprovidedinthisPlan,

ortheamountbywhichanyholderofanAllowedSecuredClaim isowedamountsbythebebtor

aierrepossession,foreclosure,andthesaleofpropertysecuringsuchclaim ,totheextent

enforceableunderapplicablelaw.

1.36 EçDisclosureStatement''meansthedisclosurestatement(includingallexhibits

andschedulestheretoorreferencedtherein)thatrelatestothePlan,incorporatingthetermsof

thisPlan,includingthedefinedtermsprovidedherein,asapprovedbytheBankruptcyCourt

pursuanttoSection 1125oftheBankruptcyCode,asthesamémaybeamended,modified,or

suyplemented.ThetermsoftheDisclosureStatementareincorporatedhereinandmadeapartof

thlsPlanbythisreferencethereto.IntheeventofanyconflictoftermsbetweentheDisclosure

StatementandthisPlan,theterm ortermsofthisPlanshallgoverm

1.37 dDisposablelncome''meanscurrentmonthly incomereceivedbytheDebtorless

amouqtsreasonablynecessarytobeexpended(i)forthemaintenanceorsupportoftheDebtoror

adependentoftheDebtor,orforadomesticsupportobligation,thatfirstbecomespayableafter

thedatethepetitionisfiled;(2)forcharitablecontributionsinanamountnottoexceedfifteen

percent(15%)ofgrossincomeoftheDebtorfortheyearinwhichthecontributionsaremade;

and(3)iftheDebtorisengagedinbusiness,forthepaymentofexpendittlresnecessaryforthe

continuation,preservation,andoperationofsuchbusiness.

1.38 dçDisposition''meansanysale,conveyance,transfer,assignment,liquidation,or

abandonmentofanyAssetsbytheReorganizedDebtor.

1.39 tçD isputedClaim ''m eans:

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(a) ifnoProofofClaimlhasbeenFiledbytheapplicableBarDateor

hasotherwisebeendeemedtimelyFiledunderapplicablelaw:(i)aClaim thatislistedonthe

Debtor'sSchedulesasotherthandisputed,contingent,orunliquidated,butastowhichthe

Debtor,theReorganizedDebtor,oranyotherpartyininteresthasFiledanobjectionbythe

ClaimsObjectionBarDate;or

(b) ifaProofofClaim orrequestforpaymentofanAdministrative

Claim hasbeenFiledbytheBarDateorhasotherwisebeendeemedtimelyFiledunder

applicablelaw,aClaim forwhichanobjectionhasbeenFiledbytheDebtor,theReorganized

Debtor,oranyotherpartyininterest,bytheClaimsObjectionBarDate,ifsuchobjectionhasnot

beenwithdrawnordeniedbyaFinalOrder.

1.40 çr isputedClaimsReserve''meanstheinterest-bearingaccounttobeestablished

andmaintainedbytheReorganizedDebtororLiquidatingTrustee,asapplicable,toreservefor

allDisputedClaims,asfurtherprovidedinthePlan,providedthatclaimsforStatutory

Attorneys'FeesshallnotbeconsideredAllowedClaimsforanypurposeunderthisPlanandno

escrow shallbeprovidedhereunderwithrespecttoanysuchclaim .

1.41 tdEffectiveDate''meansthefirstdaythatisaBusinessDay(a)thatisnotlessthan

fourteen(14)daysfollowingtheConfirmationDateand(b)nostayoftheConfirmationOrderis

ineffect.

1.42 KsEcluitv Interest''meanstherightsoftheDebtorinherAssets. Thevalueofthe

Debtor'sEquityInterestshallequalthevalueoftheDebtor'sinterestinherAssetsasofthePetition

Date.

1.43 CsEstimatedClaim''meansanyClaim,theamountofwhichhasbeenestimatedby

theBankruptcyCourtpursuantto11U.S.C.j502(c).AnEstimatedClaim shallnotbedeemed

anAllowedClaim andnodistributionshallbemadeonaccountofanEstimatedClaim underthis

PlanuntiltheBankruptcyCourthasdeterminedtheactualamountoftheClaim.Untilsuchtime,

al1EstimatedClaim sshallbetreatedasDisputedClaimsunderthisPlan.

1.44 dEstate''meanstheEstatecreatedfortheDebtorintheBankruptcyCasepursuant

toSection541oftheBankruptcyCode.

1.45 çExculpatedPersons''shallhavethemeaningsetforthinSection8.3ofthePlan.

l.46 çtExecutorvContract''meansacontractbetweenoramongtheDebtorandathird

partyunderwhichaIIpartiesowedcontinuingobligationsofperformanceontheFilingDateas

definedundercaselaw interpreting Section 365oftheBankruptcyCode,notw ithstanding

O.C./.A.j13-1-2.

1.47 ççFederalJudcm entRate''meansthe FederalJudgm entRateprovidedunder28

U.S.C.j1961ineffectontheEffectiveDate,orsuchotherrateastheBankruptcyCourtmay

determineattheConfirmationHearingisappropriate,suchinteresttoaccruefrom theEffective

DatewithrespecttothoseAllowedClaimsspecificallyentitledtosuchinterestunderthisPlan.

48

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1.48 ETeeClaim''meansaClaim under1Sections330(a),331,503,or1l03ofthe

BankruptcyCodeforcompensatiönofaProfessionalorotherEntityforservicesrenderedor '

expensesincurredintheBankruptcyCasefrom thePetitionDatethroughtheEffectiveDate.

1.49 1Ti1e.''tTiled,''orE'Filina''meansfile,filed,orfilingwiththeBanknlptcyCourt

intheBankruptcyCasy.

1.50 GTinalDecree''meansafinaldecreeasdescribedinBankruptcyRule3022.

1.51 (TinalOrder''meansanorderorjudgmentoftheBankruptcyCourt,orothercourt

ofcompetentjurisdiction,asenteredonthedocketintheBankruptcyCaseorthedocketofany

othercourtofcompetentjurisdiction,thathasnot'beenreversed,stayed,modified,oramended,

andastowhichthetimetoappealorseekcertiorarihasexpired.

1.52 (CGAAP''meansUnited Statesgenerallyacceptedaccountingprinciples,

consistentlyapplied,asineffectontheEffectiveDateofthisPlan.

1.53 lttlalardiCreditorsTrust''meanstheliqtlidatingtrustcreatedbythePlanfor .

distributiontopaymentstoholdersofAllowedUnsecuredClaimsbytheLiquidatingTrusteein

accordancewiththetermsofthePlanandtheLiquidatingTrustAgreement.

1.54 Er overnmentalEntitv''m eansanyfederal,state,orlocalorforeigngovernment,

anypoliticalsubdivisionthereoforgnycourt,adm inistrativeorregulatoryagency, department,

instnlmentality,bodyorcomm issionorothergovernmentalauthorityoragency,dom estiçor

foreign.

1.55 IIRC''meanstheUnited StateslnternalRevenueCodeof1986,asamended.

1.56 E'IRS''meanstheInternalRevenueServicesagencyoftheUnitedStates.

1.57 llnsider''shallhavethemeaningsetfol4hinSection101oftheBankruptcyCode.

1.58 tGlnsuranceClaim''meansanyclaim oftheDebtorunderanyInsuranceContract

coveringtheDebtororanyinterestoftheDebtorinproperty,arisingpriortoorfollowingthe

EffectiveDateofthisPlan,includingclaimsoftheDebtoragainstthirdpartiestotheextent

coveredbyDebtor'sinsurance.

1.59 llnsuranceContract''meansanycontractofinsurancetowhichtheDebtorwasa

partyonthePetitionDateoronanydatethereafteruntiltheEffectiveDateofthisPlan,or

therebfterfortheterm ofthelnsuranceContract.

' 1.60 tçLitisqationCosts''lneansthegoodfaithestimateoftheReorganizedDebtorofall

actualandnecessarycostsandexpensestobeincurredaftertheEffectiveDateinconnection

withinvestigating,prosecuting,settling,orotherwisepursuingtheCatlsesofActionandthe

actualcostsoftheLitigation.

49

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I

1.61 lt iquidatinaTrustee''meansThomasT.M cclendon,oranalternative

disintçrestedthird- 1

partyselectedbytheCommitqe,astheTrusteeoftheGalardiCreditorsTrust,

approvedbytheCourtandestablishedunderthePlan.

1.62 EW on-rf'axPriorit'vClaims''meansanyClaim thatisentitledtopriorityin

paymentpursuanttoSection507(a)(3),(4),(5)or(6)oftheBankruptcyCodeandthatisnota

PriorityTaxClaim,AdministrativeClaim,oraSecuredClaim .

1.63 CSO.C.G.A.''meanstheOfficialCodeofGeorgiaAnnotated,asamended.

1.64 G&person''meansanaturalperson,oranylegalentit'yororganizationincluding,

withoutlimitation,anycorporation,partnership(generalorlimited),limitedliabilitycompany,

businesstrust,unincorporatedorganizationorassociation,jointstockcompany,trust,

association,governmentalbody(oranyagency,instrumentality,orpoliticalsubdivisionthereot),

oranyotherform oflegalentity.

1.65 ûlpetitionDate''meansJanuary l2,2022.

1.66 ttplan''meansthisplanofreorganizationfortheDebtoranda1lexhibitsand

schedulesattachedheretoorreferencedherein,whichexhibitsshallbepal4ofthePlanasifset

forthfullyherein,asanyofthesamemaybeamended,moditied,orsupplemented.

1.67 çspost-confirmationInterest''meanssimpleinterestatfivepercent(5%)per

annum,orsuchotherrateastheBankruptcyCourtm aydetermineattheConfirmationHearingis

appropriate,suchinteresttoaccruefrom theEffectiveDatewithrespecttothoseAllowedClaims

specificallyentitledtosuchinterestunderthisPlan.

1.68 çtpost-petitionObliaations''means,withrespecttoaccountspayableorother

obligationsoftheDebtor,suchaccountsorobligationswhichhavearisen intheordinarycourse

oftheDebtor'sbusiness,orobligationsthatareotherwisegrantedAdm inistrativeExpensestatus

underthePlan,afterthedateofthefilingoftheBankruptcyCaseandbeforeconfirmationofthis

Plan,bxclusiveofinterestaccrualsonaccountofPre-petitionObligationsoftheDebtor.

1.69 çtpre-petition''meanspriortoJanuary l2,2022,thedateofthefilingofthe

voluntarypetitionsunderChapter11bytheDebtor. '

1.70 Sdpre-petitionOblications''meansalIobligationsoftheDebtorarisingPrepetition.

i1.7l EçprioritvTaxClaim''meansaClaim thatisentitledtopriorityinpayment

pursuanttoSection507(a)(8)oftheBankruptcyCode.

1.72 ttprofessional''meansanyprofessionalemployedintheBankruptcyCase

pursuantto Sections327orl103oftheBankruptcyCodeorany professionalorotherEntity

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I

l

seekingcompensationorreimbursem entofexpen

k

sesinconnectionwiththeBankruptcyCase

pursuanttoSection503(b)(4)oftheBankruptcyCode.

- '''.'''''''' t

j1.73 dçproofofClaim''m eansawritingcomplyinginallrespectswithBankruptcyRule

3001,'andfiledincompliancewithBankruptcyRule3003,withinthetimeprovidedbyanyBar

DateOrderenteredintheBankruptcyCase,oranyotherOrderspecificallyapplicabletosuch

writing. ' .

1.74 çtproRata''means,whenusedwithreferencetoadistributiontoHoldersof

AllowedClaims,thatthegrossamountstobepaidwillbedividedandpaidproportionately, so

thatwithrespecttoaparticularAlowedClaim,tlteratioof(a)(i)theamountofqroperty

distributedonaccountofsuchClaim to(ii)theAl1lowedAmountofsuchClaim,lsthesameas

theratioof(b)(i)theamountofpropertydistributedonaccountofaIlAllowedClaimsofthe

' ClassinwhichsuchClaim isincludedto(ii)theamountofallAllowedClaimsinthatClass.ln

determiningsuchratio,theReorganizedDebtorahdLiquidatingTrusteeshallnotincludeinterest

' otherwiseaccruinguponsuchClaim aftertheEffectiveDate,mayroundpercentagestothe

nearest1/100th(.01),andmayroundeachresultingclaim tothenearestonedollar($1.00).

1.75 ççReoraanizedDebtor''meanstheDebtorfollowingtheEffectiveDateofthisPlan.

1.76 Sssales''meansthesalebytheDebtortobuyersintheOrdinaryCourseof

BusinesseitherbeforeorfollowingtheEffectiveDateofthisPlan.

1.77 ltschedules''meantheschedulesofassetsandliabilitiesandthestatementsof

GnancialaffairsFiledbytheDebtor,asrequiredbySection521oftheBankruptcyCodeandthe

officialbankruptcyform s,asthesamemayhavebeenorm ayhereafterbeamended, modified,or

supplementedbytheDebtorortheReorganizedDebtor,asthecasemaybe.

1.78 çGsecuredClaim''mejmsaClaim thatissecuredbyalienonPropertyinwhich

Debtor'sEstatehasaninterestorthatissubjecttosetoffunderSection553oftheBankruptcy

Code,totheextentofthevalueoftheClaim holder'sinterestintheEstate'sinterestinsuch

Propertyortotheextentoftheamountsubjecttosetoff,asapplicable,asdeterminedpurstlantto

Sections506(a),andifapplicable,1129(b)oftheBankrtlptcyCode.

1.79 Cûset-offClaims''meansallAllowedSecuredClaimssecuredsolelybyrightsof

set-offagainstAccountsReceivableduetheDebtoronthePetitionDate, totheextentallowed

underSection553oftheCode.

1.80 ttspecialNoticeParties''m eanstheDebtor,CreditorsComm ittee, Liquidating

A gent?andUnited StatesTrustee,andany otherpartiesthathaverequested inwritingarelevant

specialnoticefrom theReorganizedDebtor.

. 1.81 ûlstatutorvAttornevs'Fees''shallmeantheportionofanyClaim constitutingPrepetitidnattorneys'feeschargedagainsttheDebtorunderO.C.G.A.j13-1-11.

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1.82 GEstipulationofAmountandNaturqofClaim''meansastipulationorother

'agreementbetweentheDebtorortheReorganizedDebtorandaCreditor,oranagreedorderof

theBinkruptcyCourt, establishingtheamountan1dnatureofaClaim .

i

'1.83 tsubsequentlvAllowedClaims''meansany Claim whichbecomesanAllowed

Claim aftertheEffectiveDate. .

1.84 Gçunifol'm CommercialCode''meanstheUniform CommercialCodesuggestedby

theCommissionofUniform StateLaws,asenactedandinforceintheStateofGeorgiaonthe

ClosingDate.

1.85 ElunsecuredClaim''meansanyClyim allowedunder11U.S.C.j502,thatisnot

anAdministrativeClaim,Non-TaxPriorityClainj,PriorityTaxClaim,SecuredClaim,oran

lnterest.

l.86 çtvotincDeadline''meansthedeadlinesetbytheCourtforreceiptofBallots

respectingthisPlan.

(END OFDEFINED TERMS)

!

)

'

' .

:

52

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 65 of 89
I

Exhibit

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 66 of 89
!

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TRUST AGREEM ENT

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forthe ,

GA LARD ICR ED IT OR S TRU ST

. DatedasofAjpril25,2023 ).

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:zantbetweth . : ' :.

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asbebtorandDçbtor-ln-possesslon

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TH OM AST.M CCLEND ON

asLlquidating Trustee

;

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 67 of 89
GALAXDICREDITORSTRUSTAGREEMENT

TàlsTfrustXgreemcht(the/lT'fùjt'âg'ribhaèht''l,datedasofXpril25,2023,byand

between:IYItlG.(GAEAADI(the'4rbebto. ïf')andThomajT.Acclendop,asLiquidétingTrustee

.(l%.tp.'tiltlâfià'$.t''.T. itfjféè.r.'l,.l'à,màckanéexecu-i:dinconnectionwithtliuAmendcd'l.ointChqpter11

hanofkeoeganizatono-/z-éry.t2.GalapdiandtheCommiueeofunsecuredCreditors,under

chapter11ofTitle11ottheUnitedStutes.Code,11U.S.C.jj101,etseq.(theK'Bankrtptey'.

Code'). ,datk.d. A,;pril10-!2023(à9ëayther. eafterbèamended,theïTlan''),intheU.S.Bankrupty . Couriföt'th:'MlddleDijtictöfGboyéia,MaconDivision(thetfBankrup.tcvCourtnl,which.P.lan

wasctmfirmedbyOrder(jftheBankruptcyCourtdatedApril14,2023.

ThePlanproyidesf9tth:establishmentoftheûKGalardiCreditorsTrust''(hereinafter

referedtoasthçsëP'iedltcrsYlsi'')toIijuidgtecertainassetsoftheDebtoranddistributethenet

proceedsofthetrustinAccurdanceWiththetermsandconditionsofthePlan.

R (KC IT A L S

W HEREAS,TeriG.GalarditiledavoluntalypetitiononJanuary12,2022(thed%pytition

Date'');

W HEREAS,,opApril14j2923,theBankruptcy Courtentered an orderconsrmingthç tif è . . .

- .

Planrthç,ttztiààilùhtbikd8ii.r,l.;'p1)t'l

W H:E'12'FW. 'L'

'j'.'IV. '

P'''la''tlzi.''rtwld.x$fprtbLçdisjdvlionsp.fCash.fro. m thçècmditqxs'Trgsrt(t4

thçhdldersof'A'Ilp#idClàsstlngeçure?Cl#in>,.zsspeéifkallyprovidvdf4rlwrein:3)(1lnjljç

PIan,whicihoizerscompztw onelhundredpercent(1t0%)oftleholdersofbenefiçiàlintçreytsof

thetrustcreatedhereby(thetdBeneficiarlesh');and

W HEREAX,the.PlànprovidesfùrthecreàtionofthetrusttoholdtheTrustAssetsintfust

forthebenefitèfal1tehelièi'ariespursuanttothetermsofthisCreditorsTrustandthePlan;and

W HEREAS,thisTnlstAgreementisexecutedtoestablishtheCreditorsTrust(asdefined

inSection2hereogandtofacilitateimplementationofthePlanandfundofpaymentstoholders

ofAllowedClass8UnsecuredClaimsunderthePlan;and

WHEREAS,thegrimagpurposeoftheCreditorsTrustistoIiquidatetheTrustAssetsfor

thebenefitoftheBeneGclarieslnacçordancewithTreasuryRegulationSection301.770l-4(d)and

theCreditorsTrustwilnotbeoperatedwiththeobjectiveofcontinuingorengaginjintheconduct

ofatradeorbusiness,excepttotheextentreasonably necessary to, and conslstentw ith,the

liquidatingpurposeoftheCreditorsTrust;and

M EREAS,theCreditorsTrustisintendedtoqualifyasalijuidatingtrustthatistreated

asat&grantortrust''forfederalincometaxpuyosesandtheLiquidatjnjTzusteeshaloperateand

m aintaintheCreditorsTrustin compliancewlthIntenalRevenueSelwlceRevenueProcedure94-

45,1994-2C.B.684,andTreasuryRejulationSections1.671-4(a)and30l.7701-4(d)anda1I

subsequentguidelinesregarding liquidatlngtrustsissuedbythelnternalRevenue Service;and

I

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I

W HER'EAS?th49Bçnefi'ciariqs desire to exchange theirAllowed Class 8 Claimf or

lntçmstgundeythçPlgnfclxrBuntG.çixqlIqtgrest;iptheCreditop Trust. '

: . :

! A G R E E M E:N T S (

. . ; .

.i

NOW THEREFORE,fqrgnditlcqnslderadonoftàepremises,andthemutualpromises

andagreement,scontained,lnthePlan,andtheCreditorsTrust,thereceiptandsumciencyofwhich '

arehçrebyeKpmolyaçknowledged,tlieDebtorandLiquidatingTrusteeherebyagreeasfollows: .

SECTION1. yk # r/p##

1.1 TermsDkllnedinRecitals.AsusedinthisLiquidatingTrustAgreement,eachof

the terms ''TmslAglpemçpt'''sDebtor'''''Liquidating Trusteey''tçBankruptcy Code,''çtplan#''

tsBankruptçyCoult'iSdpetitipnDate,''andRconfirmationOrder''shallhavethemeaningssetforth

inthePlan. '

1.2 'IiermsDéllned.in thePlan. Capitalized termsused in thisTrustAgreement

withoutdefinition shalhavethemeaningsassignedtothem inthePlan.Termsdefinedin the

Bankruptcy Codeandnotothenvlsespecifically defsnedinthePlanorherein shall,whenused

herein,havethemeaningsattribuledtothem intheBankruptcyCode.

SECTION IL qA'UTH,OM TY C/F'AND'CERTAIN DIRECTIONS T0 LIQUIDATING

TRUSLQEE:XXCXXPWtgpgoyskpgp

1 . .

z1 èrkàtion'ôf'è'k'qdiibt'xirrùstkPuràtlanttöth:P1ànandthe(lunfinhâtîoh'order,

éndtfikctivù:àbof'th:EfféctikeDâieofithePlap,theBenv tiarivsandDébtorhetybykrdAt:the

Credhdt'gTttst,tobefbhnall/ktîowtlastheCSG'alardiCreditorsTrust''forthebenefkofthe

Beneficiarivs. PursuanttothetçrmspfthePlan,theDebtorexecutesthisTrustAgreementand .

itmvhcqblytrvnyfpry,àbsglutçlyiq#s'1'gns,convuys,setsover;anddeliverstot.heCmditorsTru.t, I

anditssucççsyor,andasylgng. ,gl.lrlght,titleandinterestoftheDebtorinandtotheTrustAssets '

(asdqfinedhçreinl,'intrtlsl,toapd.?or$hebenefitoftheBençficiaries'fortheusesandpurpoies

statedhercinandinthePlan,exceptasmayotherwisebespccificallyprovidedbythePlan.The

Debtorshallexecuteanddeliversuchotherinstrumentsofsale,transfer,conveyance,assignment,

andconfirmation,andwillcooperateandtakesuchotheractionsastheLiquidatingTrusteemay

deeinreasonablynecessaryordesirabletotransfer,convey,andassignallrights,title,andinterests,

intheTrustAssetstotheCreditorsTrust.

2.2 PurposeofCreditorsTrust.ThisCreditorsTnlstiscreatedandorganizedforthe

sole pufposes of collecting, holding, liquidating, and distributing the Trust Assets and

adrpinistering,compromising,settling,withdrawing,objectingtoClass8UnsecuredClaimsunder

the'1Plan,withnoobjectivetoengageintheconductofatradeorbusiness,excegttotheextent

reasonablynecessaryto,and consistentwith,theliquidatingpurposeoftheCredltorsTrust.ln

accùrdancewithstlchexpressandlimitedpurposes,asoftheEffectiveDate,theCreditorsTrust

isherebyauthorizedanddirected:(i)totakeanyandallstepsnecessarytomaintaintheCreditors

TrustasaliquidatingtrustforfederalincometaxpurposesinaccordancewithTreasuryRegulation

j301.7701-4(d)andasatgrantortrust''subjecttotheprovisionsofSubchayterJ,SubpartEof

theIRCunlessotherwiserequired;(ii)totakeaI1reasonableandnecessaryactjonstoconsen?cand

protecttheTrustEstate;(iii)toadminister,compromise,andsettleClass8UnsecuredClaims,(iv)

2

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: .

! .!

j:

, (

totheextentnecessaryan'depproptiqte,andasprovidedinthePlan,objedtoanyClass8Claims C(

aisertedAgainstj'heDebtof'sEstate'gndtàeC. reditçrsTrpst;and(v)tnmaintainz.operatç,orlease j . ( . ,

. '

(.torp.uposesofliqldlng. forsalç-),prsd1orntlenyiselquid.qtço.rdisposeofthe. TruytAssess,tin (1J

.açcprdarjcewith'thçSçrpjspf..

't'lzi;Elqgid.qsingTrpytAgrçemxns,thç,Plqp,apd$heUpnfirm>gon j

Order,andto'distrlbutethend proceedspfiuchdispos'itiontotheBenefkiaries,inasprompt, k

Cffièientt'andordtrlyafashionaspossibleinacçordancewiththeprovisionshereof. y'

; . .'

23 TitletoTrustAssets.'UponthetransferofthecertainAssetsoftheDebtor,tothe 4

CreditorsTrustEjjtovizedlnthePlan,theLiquidatlngTrusteeshalsucceedtotheDebtor'srlght, i

title,éndiriterbstintheTrugtxA:jetàandth:Debtorwillhavenofurtherinterestinorwithrespect

totheTmstAswtj.:rtheCrèditoràTrust.Theu'rrustAssets''shallconsistoftheAssetslisted '

onExhibltG$A''attachedherdoandincorporatedhereinbythisexpressreferencethereto.

!

2.4 TàxTreatmentofTeànsferoftheAssetstotheCreditorsTrust.Fora1lfederal :

income(axputposes,allxpadieq(intluding,withoutlimitation,theDebtor,theLiquidatingTrustee,

andlheBefleficiaribyl':hal'tùatthe'lrânyférof'theTrustAssetstotheCreditorsTrust,assetforth S

inSections2 ) .1afld2.3ofthisLiquidatingTrustAgreementandinaccordancewiththePlan,asa

transferofsuchTrustAssetstoth:BeneficiariesandatransferbytheBeneficiariesofsuchTrust

AssetstotheCmditbrsTrust.lna1levents,theBeneficiariesoftheCreditorsTrustshallbetreated

a:theg'rqntor;gnd,dççmedownetsofth4CrbdifoxsTrust. i

1 ' . . .. yij,

# ;! ' . 4vthrç.wt/dà.lçqvfgljyhdbubtf4ljowihglhettmtribtgio:o?T.wstAssetstotheCtcdvitqo i

Tnzstp. u.raAL.nt: tplA't..t1il;ç4.1aad..,43pfShxPlananb.'Secti.qns2,1and2,3hqreof?twL.iqùidyling 1 T . ;: ,. ; ) rusteeshàllhayéltàndin. jitxeqd.mlnijtertheTmstXssets,And'qcççptçompromisesand'sdttlzgny 1

Claps:UnsecureàU'latm#.pl)oeilâlfo#tlieèreditpTst-w'st. !

2.S AksignmentandAssumptionofChims.lnaccordancewithSection1141ofthe

BtoatnhkeruCptteùdyitUorosdT:

ràujdtfSrebeùta

ionnd2

c.le1a

h

reörfeoatnythLeieDhetb,tCptru

himer

se,biyntterraensstfse,resnac

n

udmabsra

ingcnesst,hoerT

anruystliAabsislektys j(

ofanykind and(theLiquidatingTrustee,onbehalfofthe CreditorsTrust, hereby assumesand E

agreejthatâ1lluth TrùstA:setsWillbè'trànsferedtotheCreditorsTrustfreeandclearofany

Liens,Claimsiinterests,encumbrances,oranyliabilityofanykind.

2.6 PropertyintheCreditorsTrust.,TheCreditorsTrustshallholdtlw legaltitleto

a1lpropertyatanytimeconstitutingapartoftheTrustEstateandshallholdsuchpropertyintrust

tobeadministeredanddisposedofbyitpursuanttothetermsofthisTrustAgreement,thePlan,

and'the Confirmation Orderforthe benefitofthe Benefciaries. TheLiquidating Trustee is

authorizedtomakedisbursementsand paymentsfrom theTrustEstatein accordancewith the

provisionsofSections5and6ofthisLiquidatingTrustAgreementandpursuanttothePlan.

' 2.7 ValuationofTrustAssets.AssoonaspossibleaftertheEffectiveDate,andwithin

thetimeframerequiredbyapplicableTreasuryRejulations,thcLiquidatingTrustee,basedupon

hisgood faithdetennination aRerconsultation wlth hiscounseland otherprofessionals, sha.ll

inform theBeneficiariesin writing solely asto hisestimateofthe valueoftheTrustAssets

transferredtotheCreditorsTrust.Thevaluationshallbeusedconsistentlybyallparties(including,

withoutlimitation,theDebtor,theLiquidatingTrustee, andtheBeneficiaries)forfederalincome

taxpurposes;providetihowever,thatsuchvaluationshallnotbebindingontheLiquidating

3 .

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 70 of 89
1

I

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Trusteçoranyptherpartyforapyotherpumosçs,includingwithôutlimitation,inregardtothe

liqgidayiopyoftheTrgst'Aoety,whçsherbybisposition,liquidation,litigation,settlement,pr

othçrwiset

1;: CoptinuatlpnortheAl.ltpm>tlc:stay,.Infurtherqtwepfthçimpl.ementafiopof1hç

Plan exceptasotherwiseprovlded inthePlan,a11injunctionsorstaysprovided forin the

BankruptcyCase,pursuanttoSections1'05,362,or1141oftheBankruptcyCode,orotherwise,

an1inexistenceonfheConfrmationDate,shallremaininfullforceandeffectandapplytoall

creditorsand Beneficiariesholding clàilsagaiùsttheDebtor,theDebtor'sEstates,theTrust

Assets,theLiqpidating'rruétee,andtheCreditorsTrustuntiltheFinalDistributionDate. '

SECTIUN 1H. BENEFICM L W TFZKWFX'.

3.1 NoTrankférorExchange.UnlesstheLiquidatingTrusteedeterminesothenvise,

BeneGcialInterestsiàtheCreditorsTrustàhallpotbetransferable.IntheeventtheLiquidating

Trustvedbesàm hofizethz:trantfetbfBleàefidialI(nteresz,theLiquidatingTrustee,withtheadviçe

ofcouns:l,shâllestéblijhptdcedtlmstögoveM thùregistrationandtransfer(jfBeneficialInterests

(çtpermitledTransFetp). OnceSuchprocedureshavebeenestablished,ifever,theLiquidating

TlusteeshallnotifyallholderscjfBeneficiallnterestsofsuchprocedtlres.Notwithstanding the

foregoing,a'transfqrofaBeftçficialJnterestshallbenotbepcrmittedbythgLiquidatingTmstee

ifspthtzansfçtwrwldbçc4psrgl'ySoMainlAinil)g4heCmiijors.Trustgsaliquidatingtru:tfqr , f. qdetql. ibttltfje,tgxpgrppsvà..ililAùè4ptdà.n.çe.@jjjj,vmouj,yayggjquymy j.atjj,pgp1,.4.(,u.)ypdysa

RgrKlortrust'',subJïéb)totiw.proyis.l.qnsofS.ùbçhaplerJ,Sub..part:EoftheIRC.

3t,2. N(iCelià. k. Atiop. 'Unlçsa!hçEtquidasing Trtwpe d#panines,oth4rwkç,t.hç

benefiçlalIpprç'spF1k'l,nd.bqzcertifiçâtqil'andnpsectpityofanysortwiltbedistrtbutedtothe

Benedciarieswithreqpedtoihe1rinterestiniheCreditorsTrust.lntheeventtheLiquidattng

Trusteedoeipermitt%1eçertilicationoftheBeneficialInterests,theLiquidatingTrustee,withthe

adkiceofcounsélshallestablidhprocedufestogovem suchcertification.Oncesuchprocedures

h . 2 ave beeriestabllshèd,ifevèr,iàeLipuidating 'rrusteeshallnotify alBeneficiariesofsuch

procedures.

3.3 AbsoluteOwners.TheLiquidatingTrusteemaydeem andtreatthepersonswho

are.Beneficiaries(asdetcrminedin accordancewiththePlan)astheabsoluteownersofthe

BeneficialInterestsintheCreditorsTrustforthepurposeofreceivingdistributionsandpayments

thereof,oronaccountthereotlandforallotherpurposeswhatsoever. UnlesstheLiquidating

TrusteereceivesactualwrittennoticeofaPermittedTransferfrom thedulyauthorizedtransferee

notIessthanthirty(30)dayspriortoadistributionmadepursuanttothetermsofthisLiquidating

'rrustAgreement,and subjecttotheapplicableprovisionsofBankruptcy Rule3001(e),the

Liquidating Trustee shallhave no duty or obligation to make ordirectany distributions or

, paymentsto such transfereeofaPennitted Transfer.

3.4 M eansofPaym ent. Cash payableto Beneficiariespursuantto Section 5 hereto

willbepaidbychecksdrawnonadom esticbankaccountmaintainedbytheCreditorsTnlstorby

wiretransferfrom adomesticbankaccountmaintainedbytheCreditorsTrustattheoptionofthe

LiquidatingTrustee.

4

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 71 of 89
3.5 Ambtlltèf Payleàt. The amountof Cash paymetits and distributions to

Bqliefiçiuriksshsllb.çmàdeàtldxkàlttilatèdinadcbrdancewiththePlan,andthesolediscretionof l

thtLiqtfidhtiljgTruyiùz.

3k6 Aecéptààtz 6fCtilwvyalîc::'rheLiquidâtirij;Trtlsteeisherebydirect:dto,àhd

theLiqgid. atingTrkwteçagreesthashvwill:(@)açceptdeliveryoftheTmstAssetsonbehalfofthe

CreditorsTrust;(b)atteptal1billàof'salpsdee.ds,assumptionsandassignments,andallother

instmmentsof.colwçyhtwereqttitedlljbedelivûredbytheDebtorortheTrusteewithrespectto

theTmstAssetstransibrredtothçLiqpidatingTrusteeonbehalfoftheCreditorsTrustpursuantto

orincqnnectionpiththePlqn,theCoufirmationOrder,orthisLiquidatingTnzàtAgreement;and

(c)takesuchotheractifmasmayberequiredofthyCreditorsTrtsthereunder,includingthereceipt

andacceplanceasp<ofth. eTrussEstgte.ofqnypmpertyorrights,including,withoutlimitation,

notes,othernegdtiablelnstruments,andclaimsbelongingtotheDebtororherEstate.

3.7 Title, O.nth4EffecfiveDate?legaltitletotheTrustAssetsshal.lbevested. in the

CreditorsiTrgstipacçordqnçewi.th.apdptlpgany1/th.eyçm)softhePlgnapdlhisTrustAgreemept.

WithoutIimitingthefiregoing,pntheEffectiveDate,theLlquidatingTrudtee,onbehalfoffhe

CreditorsTrust,shallbeauthorizedtoaotasrepresentativeoftheDebtor'sEstateinrespectofany

andal1Class8Unsecured Clairpsand besubstitutedassuccessorto DebtorandReorganized

DebtorinàIladlöisàndprbceedipgs,pendingorthereaûercommencedinthèBànktuptcyCourt.

of'ilke/hèré,inregàfdlhjtgriydisptpé:ùveftlieallpwahceèf.anohjeèutedClaini.

SECTION IV. AbMINIA R/ASIûN 0F TRCSTESTATE

4.1 Clàims.rRèàkw èàk:

a. AsmötepaditulàrlyanddefinitivelyprovidedinthePlan,theLiquidating

Tmsleeshalleyyablisha,resçrvefgndtheGtDisputcdClaimsReservel')forthepaymentbythe

LiqqidatingTrustç'eUf'allDi:puiedèclajs8Uns'ucuredClaimsparticiyatingintheTrust.Each

timea di7tribqtion i.mudeto R y Clqss8 Unseçured Claim sopartlcipating,theLiquidating

TrusteeshalldepositiùtotheDi'sputedClaims'Reserveanamountequaltothedistributionthat

eachholderofaparticipatingDisputedClass8UnsecuredClaim wouldhavereceivedwerethe

' face amountofitsDisputed Class8 Claim bee'n an Allowed Claim. Atthe tim e a Person's

DisputedClass8UnsecuredClaim isallowed,inwholeorinparqsuchPersonshallreceivefrom

theDisputedClaimsReserve,adibtributioneqtlaltothedistributionssuchPerson wouldhave

receivebonaccountofitsAllowedClass8Claim haditbeenanAllowedClass8Claim atthetime

ofsuchpriordistributions,withanysurplusCashheldintheDisputedClaimsReserveonaccount

ofsuchDisputedClàss8Claim becominggenerallyavailableforusebytheLiquidatingTrustee.

SuchPersonshallalsobecomeanew BeneficiaryoftheCreditorsTrustandsuchPersonshallbe

deemed,atsuch time,tohavereceivedadistribution ofassetsoftheTrustEstateequalto the

amôuntoftheAllowcdClass2Claim immediatelyfollowedbyatransferby suchPersontothe

CreditorsTrustofsuchassetsandsaidnew Beneficiaryshallbetreated,atsuchtime,asanew

grantorand deem ed ownerand Beneficiary ofthe CreditorsTrusttothe extentofhisA llowed

Class8Claim .

4.2 Adm inistrative Powers ofthe Liquidating Trustee. During the Liquidating

Trustee'sadministrationoftheCreditorsTrust,andsubjectto:(i)alltheotherprovisionsofthis

5

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 72 of 89
LiquidatingTrustAgreement(iniluding,butnotlimitedto,Sections4.3and4.4)and(ii)thePlan,

theiLiquidatingTrusteemayexerclsethepower: .

(i) To,recki'veundhèld,al1.oftheassetsoftheTrustEstateandtohave

exélusivepöjsèjjiön:aàdttdtfol:thùfeoflàs.p:itffii,jibleufiderapplièablelaw;

tii) 'Tbnialace,market,sell,andconverta1loranyportionoftheassets

intheTnzstEsltetoCàshanddiàtfibùtethehnetdistributable,proceedsasspecifsedinthePlanand

thisTrustAgreement;

(iii) Toenterinto,petform,andexerciserightsundercontractsbinding

upontheCreditorsTiusi(butnötupontheLiqtlidatingTrusteeinhisrespectiveindividualo1'

corporatecApacity)whicharereàstmâblyincidenttotheadministrationoftheCreditorsTrustand

whichtheLiquidatingTrustee,inthvexerciseofhisbestbusinessjudgment,reasonablybelieves

tobeinthebestinterestsoftheCmditprsTrust;

(iv) Tbdilegatç'hijàuthorityunderthisCreditorsTrusttootherpersons,

provided thatsuch delegation mustbem adepursuantto a written agreementthathas been

approvedbytheBankruptcyCourtinconjunctionwiththeconfirmationofthePlan;

(:v). To.çytabtlyh,àndnplntainaccpuntsatbanksandQtherfirjancial

lnstitujlvns,'inq,tl.r#lï(spqpitlkd,ytqd,tlqio !4ip44i@,Injç)Wh..içl),Cashpndpropertyoftlw Ta gt

m..@yl.k'd.d:ppsip

.

d',' à'pt

!

t

T1

ld:..lp.v8,j. t8.8'k..j.l.ç)ymakç:Q,i2t,hdrawàlsf.mjnCstwàaçcqgnts,andlppuypr distclfptçguèla.itm.b. bIA>Eof.. th. 4;'tftplitEqi.éiç',',àl1kjipermltçdormquikgbgnderiheIjqp.al.)dth.is

'1' slAppem#nt; ' : .

(ki) Toelployatorneys,accountants,realesuteagents,realestate

brokers,appraisers,expert.witnesses,lnjurahceadgusters,orotherpersonswhoseservicesmaybe

reasonablynecesjaà oradklàablèihthùàölejudj'fnbntoftheLiquidatingTrusteetoadviseor

assisthim inthedischargeofhisdùtiesaàLiquidatingTrusted,orothenviseintheexerciseofany

powersvestùdintheLiquidàting'Vrusteeylandtopayreasonablecompensationtosuchattorneys,

accountants,realestàte agents,reàlestate brokers,appraisers,expertwitnesses,insurance

adjusters,orotherpersonsoutoftheTrustEstate;

(vii) PursuanttoSection1123(a)(5)(D)oftheBankruptcyCode,tosell

orothem isedisposeof andliqtlidateorconverttoCash,anyassetsoftheTrustEstate,either

subjecttoorfreeofanyLien.ordistributealloranypal4ofthepropertyoftheTrustEstateamong

thosehavinganinterestinsuchpropertyoftheTrustEstate;

(viii) Topayanyanda1lreasonableandnecessaryexpensesattributable

orrelating to them anagem ent,m aintenance,operation,preservation,orliquidation ofthe Trust.

Estate;

(ix) Unless othem ise provided in the Plan,to investigate,file,

compromise,settle,withdraw,orIitigateintheBankruptcyCourtoronappeal(orpursuanttoa

withdrawalofthereferenceofjurisdiction)objectionstoClass8ClaimsGledagainsttheDebtor's

E-state,theTrustEstate,ortheCreditorsTrust;

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 73 of 89
' (x.) To.stlebrbesuedinconnectionwithanymaterarising frbm or

relatçkSo1hePlvn,orfhisT'ruttAgrevmentlhatAffèctsingnywaytherightsorpbligationsofthe

CreditorsTtustatheLiqùidgtihgTm steq',bttheBelteficiariçs).

(xi)': To.rè/rkseljt:ytheititérestsofthçBeneficiafiç'sWithrvspeqttoany

m@ttersmlatingIQthe'PIK ,thisTrubfAgreement,orthçCreditorsTrustaffectingtherightsof

suchBenefkiaries;

(kii) lftheCieditorsTrustshallbecomesubjecttofederalorsGteincome

tax,theLiquidatingTrusteeshgllhqvethepower,exercisableathisreasonablediscretion,totake

anyactionreasonablynçcessaryto'minimizçanygdversefederalorstateincometaxconsequences

to the Benefiçiaries rçsulting fmm apy distribution made by the Creditors Trust to such

Beneflciaries;

(xiil) Ingçlwrgl,withoqt.ipanymannerlimitinganyoftheforegoingor

thefolowingxtodealWitithçt'rustAsselsoranypartorpartsthereofina1otherwaysaswould

belawfulforanypersonowningt%esametodeàltherewithiprtwf#c;however,thattheinvestment

powersoftheLiquidatingTrustee,otherthanthosereasonablynecessarytomaintainthevalueof

theTrustAssetsoftbeCreditorsTrustandtofurthertheIiquidatingpurposeoftheCreditorsTrust,

arelimitedbythetzrmsheteih.;

.

'

t. .

(k1#).ïbi't(i,'làh#'àitlàlmhèfthltëj,hot1àviölàtlondfàn#bthzrttfnsof'

thù'plànjtheCnhfifljptèhOrd:r,,jpjihiàLikùidàtihgTlstAgrebntehkwhichjinthçteasonable ' huyiknessjudgnjvTjttjtihetiqtftikd/g'ltmkee,.iâm tlqççssury örupprppriatefQryhçpropqt

'

. . .

. . .

'

. . . . . . liqqidlatikh.' mgnakçnjeijli..ilwkjltfkilj.ând dislbulion of'th: Assetà oftlje TrustE, qtgp ip

.

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accordahcewithth4pmviinnsofthisiTiustAgfkdmentaljdthèPlan;

(xv) T()fi1,q!gxmtumsfortheCrçditorsTrust.

4.3 Liinitationson LiqqidAtingTrustee;Investm ents.

a. No Trade or Business. The Liquidating Trustee shallcany outthe

purposesoftheCreditorsTrustandthedirectionscontainedhereinandshallnotatanytimecause

theCreditorsTrusttoenterintoorengageinanybusiness(exceptasmaybeconsistentwiththe

limitedpurposesoftheCreditorsTrust),including,withoutlimitation,thepurchaseofanyassets

orproperty(otherthansuchassetsorpropertyasarereasonablynecessarytocarryoutthepurposes

oftheTrustAgreement,onbehalfoftheCreditorsTmstortheBeneficiaries).TheLiquidating

Trusteeisdirectedtotakeal1reasonableandnecessaryactionstodisposeoftheTrustEstateinas

prompt,efficient,andorderlyafashionaspossible,tomaketimelydistributionsoftheproceeds

oftheTrustEstatc,andtoothcrwiàenotundulyprolongthedurationofthcCreditorsTrust.

b. lnvestments.Exceptasotherwiseprovided inthePlan,theLiquidating

TrusteeshallinvestanymoniesheldatanytimeaspartofthisTrustEstate,andeveryotherreserve

orescrowfundestablishedpursuanttothetermsofthisTrustAgreement,onlyininterest-bearing

depositsorcertificatesofdepositissuedbyanyfederallyinsuredbankinginstltutionorshort-term

investments,includingshort-term obligationsotlorunconditionallyguaranteedastopaymentby,

theUnited StatesofAmerica and itsagenciesorinstrumentalities,pending the need forthe

disbursementthereofin paymcntofcosts,expenses,andliabilitiesoftheCreditorsTrustorin

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 74 of 89
makingdistribûtionjpufàuanttuSèction5ofthisTrustAgreement-TheLiquidatingTrusteeshall

befqslrict:dtothe.collectionEahd/hbldihgofsuchmoniesgnd@nyincomevarnedonsuchmoniçs

ahdtôthtpayteht.éndtdijtrib.utitm thyrdo'f:(àtlèàstTknnuallyifsuchmoniqs.are'nöthec:àsatyto

maintaihthevalut6fthdT'rujtEstateprtoSàtidfyClaimbagainsttheTrustEstate)forthepurposes

set:fbrthinth:PlanundthisTwk'Atrççm:rltjmd.t:thecqnservqtijm ,and. protedionofthçTmst

Estateihadcordàltcùwiththùprtwlsiorishereof, ,

4.4 Baàka ptc Ctmrt Apprbval of Settlements Are Not Required.

No- ithstandingtheprovilion:ofthePlah,thçLiquidatingTrusteeisauthorizedtocompromise

andsettleanyUnstcnted'class8ClaiinregurdlessoftheamountofsuchUnsecuredClasssClaim

withoutBgpkrupjçyCqurtapprovgl.,

4.5 TransfereeLiabilitiqs.IfanyliabilityshallbeassertedagainsttheCreditorsTrust,

astransfereeoftheTnwtEstate,onaccpuntofanyclaimedliabilityoforthroughtheDebtor,the

LiquidatingTnlsteemayuseyuchpartoftheTruslAssetsasmaybenecessaryincontestingany

suchclaimedligbili!yand.ippqvment,compmmise,setlement,anddischargethereofonterms . ! <

'

; .

reasonablysatisfactorytotheLlpuidatlng'frustee.Inno.eventshalltheLiquidatingTrusteebe

requiredorobligatedtousehisownpxoperty,funds,orassetsforanysuchpurposes.

4.6 Administration:ofTrust. ln administeringtheCreditorsTrtlst,theLiquidating

Trustee,subjecttothezxp.rùsslimilàtiolikéontàihùdherein,iszuthörizedanddifectedto'doand

perform àtl.àuchabtj?tèEikecmtiâiidlrd,ili.Wijuçh. dùkdsàbillj'öfàalkk.inétrutùntsofyoiwpp ricw

and'bthetdbttlmaptsEas.lterita#.kùzm 'yeàsopàbthhec.essàryoradvisabletoçan'youtthepurpoàes .

'

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'

. . '

oftheCfaditbfi-frtltt. i .

4t (IùymèntotExpepxéshnàOtherLixbilities.ThtLiquidatingTrusteeLshalpay

a1lrcasonable expenses;tharges,lipbilitiesand obligationsoftheCreditors Trust,including

withouylimisingthegùhktality o.f'shçfomgpipgpsvchdebtg,liabilities,orobligationsasmaybe

payablefrom theTrtwt'Estatç',intemsttûxes,asbqsiments,a1)8publicchargesofeyeq kindand

nature,andthecosts,charges@1)dçKpçnsqsinconnectionwithorarisingoutoftheexecutionor

administration of the Creditors Trgbt arjd the TrustEstate,and such 'otherpayments and

disbursementsasareprovidedforinthisTrustAgreementorwhichmaybereasonablydetermined

bytheLiquidatingTrusteetobeproperchargesagainsttheCreditorsTrustandtheTrustEstate,

andtheLiquidatingTrustee,inhisreasonablediscretionandbusinessjudgmentmaydetermineto

benecessaryoradvisabletomeetorsatisfyunascertained,unliquidatedorcontingentliabilitiesof

the,creditorsTrust.n eLiquidatingTrusteeshallm akesuchpaymentswithoutapplicationtoor

orderoftheBankruptcyCourt,exceptasotherwisehereinexpresslyprovided.

4.8 Liquidating TrusteeFees. TheLiquidating Trustee isentitled to reasonable

compensationforservicesperformedpursuanttothetennsofandinaccordancewiththetel'msof

thiy TrustAgreement. The Liquidating Trustce willbe paid attheir standard hourly rate

customarily charged tootherclientsorsuch othercompensationarrangementapprovedby the

BankruptcyCourtasapartofconfirmationofthePlan.

4.9 FiscalYear.The CreditorsTrust'sfiscalyearshallendon Decem ber3lofeach

year,unlesstheLiquidatingTrusteedeemsitadvisabletoestablishsomeotherdateonwhichthe

fiscalyearoftheCreditorsTrustshallend.

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 75 of 89
4.10 Reports.TheLiquidqtingTrustecshall:

@, Pèrepare'ûndfi1.,ç'vnatidifed,i.ntdim linvnqià.lrçpçjrrs.q,m;y berequiredby

regplatoryaqtlmriiiès,ppplicableJlwp?rulèsorrqgulgtionsorastheLiquidayingTwsrteedeems

qdyisablejuringthe'tkvu.tyegr;

b* Prepare,5lç:.'al)bmâil..,witlii.n thetime required by applicablelaw or

regulation,necessary. . ibymm'etax infçrmalfon',taxretumsorrçportstotheBeneficiariesand ,. .

applicabletaxingguthoritiesjipolgding,onangnnua,lbasls,themalmerandcalculationofthe

CreditorsTrust'staxablegainorkltlqswhichtheCreditorsTrustwouldrecognizeifitwerea

separatetaxableentity. In thisconnçction,theLiquidating Trustee shallfileretumsforthe

CreditorsTrustasagrantortruitpursuanttoTreasulyRegulationSectionl.671-4(a);and

o. AssoonaspracticableaAereachcalendarquarter,andinnoeventIaterthan

thil'ty(30)daysaftertheendofeachquarter,theLiquidatingTrusteeshallsubmittotlaeUnited

State:Trustee,ahd any Beneficiàry who requests'copies ofsuch quarterly reportaAer the

ConfirmatiohDàté,ànttnaùditèdWritetrejoftâtldadcountshowing:

(i) theassetsandliabilitiesoftheCreditorsTrust;

(ii) aliydijtibtfiùh:riad:àhdéxp:liàks.paidpurjuanttothePlanand

theTfpét'Agtkeht4htd.jlrihkthàirdlklidà,fqiaaftùïtj

(li.) =y'qhxqget:itltheTrustAyàktsthàthave'notbùknpr4viQusly

reporjqd?qndk

(ik) àny materiàlactibn taken by the Liquidating Trustee in the

performançeofhisorlterdutiegundvrtheTastAgreemçntthgthasnotbeenpreviouslyreportçd.

4.11 Aban4tmment6fAsàets.TV LiquldàtingTrusteemayabandonorothenvisenot

acceptanyTrust.Aisçjsthatyhe'laiquizasingTnwtçebelieves,ingoodfaith,hasnovalueorwill

beundulyburdensometotheLiquidatingTrtlstbl filinganoticeofabandonmentonthe

BankruptcyCourt'sdocketinthiscaseorserving4notlceofsuchabandonm entuponDebtor.Any

TrustAssetsthattheLiquidatingTrusteesoabandonsorotherwisedoesnotacceptshallceaseto

beTrustAssets.

SECTION V. PAYM ENTSAND DISTRIBUTIONS.

5.1 DistributionstoBeneficiaries.

1 a. AsoftenasinthereasonablediscretionandjudglnentoftheLiquidating

Trusteethereshallbeavailablecash in anamountsufficienttorenderfeasibleadistribution of

CashtotheBeneGciaries,theLiquidatingTrusteeshalltransferandpay,orcausetobetransfbrred

andpaid,totheBeneficiaries(subjecttotheprovisionsofSection3hereoflstlchaggregateamount

ofAvailable Cash,ifany,asshallthen be held in theCreditorsTrust,excluding reasonable

amountsofCashneededto paytheexpenses,debts,charges,liabilitiesand obligationsofthe

CreditorsTrust(theKtDîstributionAlpöunt''l.Theaggregateamountsrequiredtobedistributedto

the Beneficiaries shallbedeterm ined by theLiquidatingTnlstee pursuantto and in accordance

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 76 of 89
withthetermsofthePlanand.tliisTrustAgreeribnt.TheDistributionAmountts)shéllbepaidto

the,Benqficiariçsqtleastannjallybplongas,Shçrearew ffkientfgndstomak.edistribqtion.and

àhà.lIbeddçiqnipvdbythx:LkqidatihgTttlste:inh1$Eteqsopab.lediscrditm gndhisdçtenjjinàtion

sh:11hqfingl. 'and cpnclusiyqop allpersûpg,gn theAbsençe ofgtoo nçgligencç orwillful ) , .

mkçoadtwtpnfhçpaq.pfth.ç(L.lqvldiiihgT. teteç;Aljdshal.lpptbçimyiewed. by'thekBanlmzptcy

cuurt.Indetçrminingtheamountpfanysuchàissribusiçm,thecreditors'rrustmayrelyandshzll

befulyprotectqdinmlylpgnpqnttw qdyiceapd.oplnionofindependentpublicaccountantsorof

counseltothecreditorsTwst.

b. Xllppyments.tobe:mgdçhereundertotheBeneficiariesshallbemadeonly

from the Availablç Cagh,and income gnclproceedsthereof,and only to theextentthatthe

LiquidatingTrusteçshallhaverecèivedsufllcibntAvailableCash,incomeorproceedsthereofto

makesuchpaymentsinaccordancewihthe'terntsofl isSection5.EachBeneficiaryshalllook

solelytotheassets,incomeandproceùdsöfthelcteditorsTrustavailablefordistributiontosuch

Beneliciaryashereinprovided.

i

tk If ,àn# dlstfibùtièà onlà Clâ:j 8 Unjecùred Claim Cunjecured

Distribution'')istenderedbytheLiquidatingTfusteetoaHolderofaClass8UnsecuredClaim

andreturned,refusedorothenvisùimproperlyreiurnedorotherwisenotcashedforaperiodofl20

days(tiunsecufedDistribmitm Rqfus4l'')Ath:LiqgidatingTltsteeshallnotberespobsiblefQr

makinganyfurtherUnseturedDisstib.piib'hppàckbttttofsuchUnsecumdElaim andmayàpp

pàyrfïvhton'th4'rchevkrkprokht1tlg',$pch.idistri,bpti,pn. AqcprdinglytinlheeyztltpfAnUfwçcurqd

DizttibutihnRçftyyl?ih,çLiqt.li,d.vti.ljg'Tt1!$4vE$àu1libçxli.tyçdoîàny.osligAtitm tpmake:yAid

, .

paymvpi. prdiu#tiàilmvl.itapfstkvi'à't/xbww i.lk#dlsk.ibvtlb.n'pmlplatotlkeotp,r:hold.el:gofclwss8

Urkqcumdctqlms,

5.2 EstablishmentpftheClalm Actounts.TheLiquidatingTrusteewillestablishon

theCmditorsTmstl's.bppksqnd recordy'qn gccountrçpresenting egch AllowçdorDispused

UnyecuredClAss8(Ectaim'gssetfoithonthçpffidlà'lclaimslregistermaintainedbytheUlerkofthe

BankruptcyCourttotheextentthatsuihtlaim isparticipatingintheCreditorsTrust(each,a

çûulaim Accoufi'').ltià:xpresslyunderjtoodthàtthèeltàbliàhmentofthcClaim Accountsbythe

Liquidating Trustee orhisagentb issolely fol'administrative convenience,and thatamounts

allocabletosuchClaim Accountsnttdnotbesegregatedandm aybecommingledforinvestment

purposesasspecifiedherein.TheLiquidàtingTrusteemayrelyontheofficialclaimsregisteras

correct.

5.3 Distributionsfrom TrustEstatç. Distributionswillbem adeto theBeneficiaries

in àccordancewiththetermsofthe PlanandtheClaim Accountswillbeadjusted by the

LiuidatingTrtlsteetoretlectsuchdistributions.

5-4 FractionalDistributions.No distribution infractionsofcentsshallbeissued. Jf

the'. Distribution Amountallocated to an Allowed Class 8 Claim or Interest atthe time ofa

distribution hereunderwould includefractionsofcents,theamountto bedistributed shallbe

rouh. deddowntothehighestintegralnumberofcentsintheapplicableClaim Account,butsuch

rounding down shallnotaffectsuch alocation. Theagm egateam ountoftheretained fractional

distributions from the Distribution Am ount shall be retained in the Creditors Tnlst by the

I-iquidatingTrusteeand shallrem ainpartoftheTrustEstate.

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5.5 FinalDistribution-,Upon'thefinalcollection orliquidation ofalloftheassets,

righjsândintqrebtgçomprisinxth4Tmsti,Essate'sr an-'4.ipany- ç. yentp'- riprtetheTenpinatipnDh ale(a/

defuedinsçctiop5.6. Iierqof)?jh.e.Liquldqtijv $m:w4)h4llprpp#reaf.inqlqccountingofanyand

.al1monksmmaipibg;tnqny.acqtppts'mainiqinejbvtlieLiquld.atlngTrusteeonbdhalfofthe

creditorj.Twst($.e'tutylnalt.e..?àsh..j#7).Onçeth4ambq.ntoftheFlnalCash'hasbeenrdEtermined,the

LiquidatingTmsteçshallmaketheFinplDisiib. utilm,inaccordancewiththePlanandthisTrust

A greem ent.

5.6 Tqrminadon'batq.TheCreditoryTrqsyshalltepuinateonsuchdatethata1lassets

intheTrustEstatehavebeendlstributed(thedtltèrlpthationëbate''l.However,theterm ofthe

CreditorsTrustshalnotexceedf5ve(5')yearstro'm tfleEffectiveDate,providedthat,upona

findingthatanextensionisnecessafytotheliquidatingpurposeoftheCreditorsTrustandupon

approvalby the Bankruptcy Uourqtheterm may beextended fora finite term based on the

particularfactsahdcircuMstances. Eàchjùch extensionmustbeapprovedbytheBankruptcy

Courtwithinsix(6)monthsoftheSeginhingùfthe,extendedterm.TheLiquidatingTrusteeshall

bereleâsedofallJiabilitiçsanddischàrgkdfröm his4jthqr6bligûtionsundçrthePlanorthisTrus.t

AgreementoncetheUféditorsTrusthasienriiiatqd.

SECTION VI. OTHERDUTIESOFTHELIQUIDATING TRUSTEE.

6è.1 .MàljâgemvntbfTrqstEsjatk.W ithrelpkcl19)EthçassçtsbftheTnwtEgtate,the . q ) .

. i . Liqgidatiilg!Ttustkdmày#1x4h4$4)âtidmqihfàiô11jexistence:,stçhinsuralwe'g;thçLlqqlduting

Trustev.dvqmsrosonab. leaqdrjecessàrypr

,k.ppropri.41efrom tijyje.totime,o pritecttheCreditors

Tm st;:t.lw.TrqstlkAs#sts,'t,.lf..è.'..L. i:qid..d'y.A..tiLi.ï.g,-t.li.t.gi(/..

.jà.ùyd(.th..eB.çpef..k..làfiqsi,i.ntçmslsipthçassds'ofth4 $ TrustEjtateQrfmnyvnyptilt4nli@j''clàl.lmspk'Ilybtlipsxmlqfingfhçretoorlhe'distfibu.tlbnthereoj.fk

6.2 TaxandRelated Matters. Pursuanttoand inaccordancewiththePlan,the

LiquidatingTrustçeshqllberegppnsiblç:fo;al.1'taxm@tpr:oftheTrustEstate,including,butnot

limitedto,.thefiltngofalltaxretumsandotàerfll'ings.Withgovernmentalauihoritiesonbehalfof

theTrustEstatefortimeperiodsendingon.orbeforethefinaltaxday,includingtheGlingoftax

returnsfortheCreditofsTrusta.sàgrihtoxtrustpursuanttoj1.671-4(a)oftheUnitedStates

IncomeTax Regulations,the filing ofdetermination requestsunderSection 505(b)ofthe

BankruptcyCode,andrespondingtoanytaxauditsoftheTrustEstate.TheLiquidatingTrustee

shallprovldesuch information totheBeneGciariesaswillenablethem to properly filetheir

separatetaxreturnsandwithholdandpayoveranyamountsrequiredbytaxlaw.TheLiquidating

TrusteeisauthorizedtoactasagentfortheTrust.Estateinwithholdingorpayingoveranyamotlnts

requiredbylaw (includingtaxlaw)tobewithheldorpaidwithrespecttotheTrustEstate.The

CreditorsTrustshallfilealIincometax retumswith respecttoany incomeattributableto the

DisputedClaimsReserveandshallpaythefederal,state,andIocalincometaxesattributabletothe

DisputedClaimsReserve,basedontheitemsofincome,deduction,credit,orlossallocablethereto.

The!LiquidatingTrusteeshallbeentitledtodeductanylkderalorstatewithholdingtaxesfrom any

payments made with respect to Allowed Unsecured Claims, as appropriate. To receive

distributionsundertheLiquidatingTrustaal1HoldersofaClass8UnsecuredClaim mustprovide

evidenceoftheirtaxidentifcationnumberreasonablyacceptabletotheLiquidatingTrusteewithin

six (6)monthsoftheEffectiveDate.TheLiquidatingTrusteeshallreportal1distributionsas

incometotheappropriatetaxingauthorities. '

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6.3 NoImpliçd Dlttiks.C'I'h:LiqgidltingTmBteeshallnotmanage,control,use,sell,

disposç,.collect,(lrotherwisedçglwiththqTrgst.Estayeorpthem isetakqapy actionhereunder

, çxceptasèxprqsyly'prcwld4dhçreih,qad4)4imptlçb. jutjej proyjjgkjonjwhatsouverofthe

Liqpidgting'rl-mstçç,jhalhçmqltlltp'stàis.TwyfAgrççmpnl.

; .7 .

SECTIQNW It CDRCKLSL.W &'TAfLIQ,UJDATIXtlTAUSTEE.

7.*1. AcceptancebyLiquid.atipgtTrpjt4e. 'I'hQLiquldajing Tru7teeaccejtsthe

CreditorsTrusthçrebycreatçdfo'rth. ebçpçikpfthçBençGciariesandagreestoactasLiquldating

TrusteeoftheCreditors,Trustpursggntjt)ihetçrmstpfthisTnastAgreementandthePlan.The .27 ''k' ,. ..

LiquidatingTrusteçshallhaveand exerci.setherightsandpowersherein granted andshallbe

chargedsolelywiihtheperlbrmanceofthedutiesherelndeclared onthepartofLiquidating

Trustee.TheLiquidatingTrusteealsoagreesftoreceiveand'disburseallmoniesactuallyreceived

byhim constimtingpartoftheTrustEstatepursuanttothetermsofthisTrustAgreementandthe

Plan.

7.2 blscretionar.ySubmlsjibn.ofouvjtions.SubjecttotheprovisionsofthisSection

7,theLiquidatingTrustee,inhissölediscretionândreasonablebusinessjudgment,may,butshall

notberequiredto,submittoth:BankruptcyCourqfrom timetotime,anyquestionorquestions

with respectto which llw Liquidqtihg Trnssçç may dçsim tp hgve explicilgpprovalof1he

Bankruptcy Coxrtfofth4takihgr4fgn# sbqqitk gkti4tipf4posèd$9betàlcçtlby.theLiqpidqtihg

( 'r ''K

'

.

Trusteewithteslkttto.thkTtgsjEgutAt,4korgi)ypAtlthzrofjand.th4administraiionundd.istributinn

pfthçTrgglEytglw, Th#.wlioçtl(@J)$h4ri.zgtj.orn)Qy:1jç.Bpnstlpttçy.c.()yjujsqtj-olp..js.yFjp.qj(xrkr

yhgllconàtilqt:(àp/rtw,alby$h,:...B'gh..l.e;2.ùpt.ky(C.,'4t#.nf.:th4'pmp'hsqdRkti.ortt.o04tjkçtl'$ythç

Liqp c. ... y . ,idat. ipgTmfqq:.

All.,çpgtq.qn:à

J

xqypensvy'irjçurr4d'àytheCceditmsTrust'i.hthççvmisçqfany . k ( )' t ' right,power,authpntyçppfçrredbyt.hls.S'ççtlèh7.2îh.#.1bççost,apdreasonableexpenjesofthe

TrustEstate.

7.3 Llabiliw'ofthetinuldaldne#rustee.

a, LimitationonLliabilitp NoprovisionofthisTrustAgreementshallbe

construedtoimpartany liabilityuponthéLiquidatin:Trusteeunlessitshallbeproventhatthe

LiquidatingTrustee'sactionsoromissionsconstitutedgrossnegligenceorwillfulmisconductin

theexerciseoforfaiiureto exercise any rightorpowervested in theLiquidating Trusteeunder

thisTrustAgreem ent.

b. RelianceonCertificatesorOpinions.lntheabsenceofgrossnegligence

orWillfulmisconductonthepartoftheLiquidatingTnzstee,theCreditorsTrustmayconclusively

relyonthetruthofthestatementsandcon-ectnessoftheopinionsexpresseduponanycertificates

oropinionsfurnishedtotheLiquidatingTrusteeandconformingtotherequirementsofthisTrust

Agreem ent.

c. Discretion ofLiquidating Trustee. The Liquidating Trustee,within the

lim itationsand restrictionsexprcssedand im posedbythisTrustAgreement,m ay actfreely under

allorany oftherights,powersandauthority conferred hereby,inallmattersconcerningtheTrust

Estate,aflerforminghisbestreasonablebusinessjudgmentbaseduponthecircumsGncesofany

particularquestion orsituationastothebestcoursetopursue,withoutthe necessity ofobtaining

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 79 of 89
theconsentorpermlsslonorqutlmrizayionçjftheBçneficiaries,theBankruptcyCourt,orofany

officiàloroffsçer;'aandtherights,pnwçp.qpd. aqthoiityclmfçrmdqntheLiqvidatingTm steeby

thisTiustAgreemçnt@.rexçonfe'rmd.

.1.h contemplatlppofyuchhxedpm ofreaconablebuslness

judgwentandaction'wit.hlntl'm.li.ml(ta)fi'pn!,pp,.wst,rictippF'çpqxpreswd>ndimpoqed;prtwidedy

however,thatthe.LiquidatlngTrusteeshallnotb.eliablerfpr@nyerororexerc'iseofjudgment,

unlessitshallbeprovedthatsuchLlqpldailng'Trtlilçewasgrosslynegligentoractedinamanner

whichconstltutedwillf'ulmisconduct. .

7.4 ReliancebyLkuidadngTrustee.

a. GenuinenessofDocuments.n etiquidatingTrusteemayrelyandshall

beprotected in acting upon any resolution,ceriificate,sttement,instrument,opinion,reporq

notice,request,cönsèàt,objyctièn,ofder,lulgment'decree,orotherpaperordocumentreasonàbly

believedbyhim tobegehuineahdtöhav:blbnsigned,made,entered,orpresentedbytheproper

party,parties,official,Qficialsvvntilyo:entities.

b. Rétèfiii:n 6fCèuliàel. 'theLiqtildaiing Trusteemay rehin and consult

withlegalcounsel,indepyndentptiblicatcöuhtânts,andotherexperts.TheLiquidatingTrustee

shallnotbeliablefor@nyactiontakçnprsûffemdbyhim oromittedtobetakenbyhim without

gross hegligence or willfqlmitçond)tz.t in mliahqeo1 an# tlpinion orcertification ofsuch

accfwialqpf,q.rin gççqrdançe,wit.h th4.4d.Wk4nf.èsvûh cpun'sklQtqxpqrùppt4vided lhatsuch

'Acçpuljtants,counp lqnd. çxpqrty'wem ig4lvttgd. qridxtetqiflçdwithrtq:pnàble.cpre:

7,.5 R.el.iâMevtmlLiqviihii;hg'/rtqstkkt'Nb.pçt.sbyjd.eAli.tfg' withthvtaiqu'idgliri''gTmslee

shallbeobligated tpjevyt)4h. çApplikgtl.papf.qny:moniçy!qe'cmitivs?:oroltwrpropeo .paldQr

deliveredtothem orto'ihqgireini.ptheçyp.ed.lpncyorpropriçtyofanypansactionortlkeright,

power,orauthorityoftheLiquidatingTrusteetqenterintoorconsummatethesameuponsuch

tennsastheLiqpidatingThisteemay:dèem.advisable.Personsdealing withtheLiquidating

Trusteèshalllôokoùlyio'the,TiustEstateto:satisf'yany'llbbilitylhcul-redbytheLlquidating

TrusteetosuchpersonsincarryingoutthetermsofthisTnlstAgreement,and,exceptasotherwise

expresslyprovidedhetbin,thèLiqùidàtirjg-P1Iujteejhallhavenopersonal,individualorcoporate

obligationtosatisfyanysuchIiability.

7.6 Indem nifkation.

a. Indemnilkation ofLiquidatingTrusteeand Agents. TheLiquidating

TrusteeherebyagreesthattheCreditorsTrustwillindemnifytothefullextentoftheTrustEstate

anypersonorentitywhowasorisaparty,oristhreatenedtobemadeapartytoanythreatened,

pending,orcompleted action,suitorproceeding,whethercivil,crim inal,administrative,or

investigatîvebyreasonofthefactthatsuchpersonorentityisorwasaLiquidatingTrusteeoran

employee,attorneyoragentoftheCreditorsTrustorLiquidatingTrustee,from andagainstany

andallexpenses(includingattorneys'fees),judgments,finesandamountspaid insettlement

actuallyand reasonably incurred by such person orentity in connection with such action,suitor

proceeding,includingappealsthereof,ifsuchpersonorentityactedwithoutgrossnegligenceand

willfulm isconductintheexerciseandperfonnanceofanypowerordutiesofsuchpersonorentity

inaccordahcewiththisTrustAgreem ent.

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b. Pgyment(jtExpçnses.Ekpçnses(includingattomeys'fees)incurmdin

dçfending any acyiqn,sqil,(lrproçeçding refelw d to il)thip Sectiop 7..6 m@y bepgid by the

' A tsCinadvance6f'thednal:dispositlonofspchzaction CreditoràTrustfrpm the'frust. sse ,asuit,or

proceeding,Jupon an'undertàklngbythetiquldàtlqg;trrustee,or,an emplpyeeorvg.çntofthe

CreditorsTrustentitledtobelhde''mnlfied.

c. Insuran'ce. The Cieditors Ttustmay :maintain 'insurance during its

existenceandaûeritsterminatlon,atitsexpense,toprotectitself'andtheLiqufdating.Trustee,and

eachoftheirofficers,employeèsèragents'öfàndfrom anyliabilitys'whetherornottheCreditors

Tnlstwouldhavethelegâlpéwùrtö'diféotl#indeinnify'thèEiquidatingTrujteeandeaèhofits

officers,employees,oragentsagainjtàuchliébility.Thetermst iquidatingTrustee,''ttemployer''

or Eiagent''as used herein,whzre applitablè, include the heirs,successors,executors,

adminiétratprs,pefsohalrepreseritative,i:f'èjtat:shfjuèhpefsonsotentities.

d. Costs and Expenses bfLiquidating Trustee. Exceptas setforth in

subsectionc,theLiquidatipgTm steeshyllpayotilofthe.TrljstAssets,on amonthlybasisand

withoutnotice (jrupplicatibn tb the Bén. ktapt.ty Cbutt 411reasoliable èojts,expenses,and

obligationsincuredbytheLiquidaiingTnpteeincanyingouthisdutiestmdertheLiquidating

TrustAgreementorinanymannerconnected,incidental,orrelatedtotheadministrationofthe

CreditorsTrust,including,withputIipjitqtion:

2(1) A.pyi4vsppgb.lejXçlmçptqdf#çsqn1Dqt-of-ppckd çxpçnsçsof

Attonwy#,Accouplapty,lpyesh. nçpt'gdyijprw,eypql'twit.n.çoç$,insqvqzweqdloteo,prçlfçpsi.onqli,

or

.,otherjefsop,wlvm.thu.x

'

L.

'lu.Kmiz.qtèl'nk,:.+r.rust4':.',fwa'yrel.. owà. àl,y'd,ççm.'))vlyatjletq.employ.'in

'

',' ..q

'

. . '-. . . . . .

.

. . . çonnectionwithdwcrezltorsTrustlnaccoldapcewlibtbetermspfthi:'rruît. Agmemçnt.;And

(ii) Anytaxes,chargesandassessmentswhichmay beowed by,or

leviedorassessed against,thesTrustcEstate.orany.propertyheld in trustpursuanttotheTrust

Agreem ent.

AftertheEfectiveVateoflthePlahxanyptofessionaljFhohavereceivedreimbursement

offeesandexpensesfrom theCreditorjTrustshàllapplytotheBankruptcyCourtforapprovalof

suchfeesandexpensesnolessthanonceeverysix(6)months.

7.7 Resignation and Rem oval.

a. Resiynation.TheLiquidatingTrusteemayresignandbedischargedfrom

anyfutureobligationsandllabilitiesheretmderbygivingwrittennoticethereoftotheBanknlptcy

Courtatleastthirty(30)dayspriortotheeffectivedateofsuchresignation.Suchresignationshall

becomecffectiveonthedatespecifiedinsuchnotice.

b. Removal.TheLiquidatingTrusteemayberemovedatanytimebyorder

oftheBankruptcyCoul'tupon motion by any party ininterest,pursuantto thestandard tmder

applicable law forremovalofa Chapter7 trustee. Upon any such removal,such removed

LiquidatingTl-usteeshallbeentitledtoanyreimbursementandindemnificationsetforthinthis

TrustAgreementwhichremaindueand owing tosuchLiquidatingTrusteeatthetimeofsuch

rem oval.

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c. AppointmentotaSgccçoorLiquldatingTrustee.If,atanytime,the

LiquidqtingTrusteeFhglgivenoticç,ofhisiptentyomsignpprsuanttoSection7.7hereoforbe

removedorshatlbecome, 'incapable. .otactfng,counselto'.''fheLituidating.. ?Truàtee'shallprovide

noticethereoftotheB'ankruptçyUourt.t'hetsredhorsCbmmltteeoriheUnitedStàt:s'rrustèe,

withtheapprovaldftheBankruptcyCouft,shalldesignateasuccessorLipuidalingTrusteetoact

underthisTrustAgreement.

d. Acceptance'xofAppolntmen't'by'SuccessorLiquidatlngTtustee. Any

successorLiquidatingTrusteeappoihtedhereundershàll'executeatlihjtrlifnentacceptingsuch

appointmehtheretmdèranilshalldelivetcotlùtùrpafts'therùoftôith:BahkruptùyCourt.Theteupon,

suchsuccessorLiquidatingTrusteeshall,withom anyfurtheràct,becomevçstedwithal1ofthe

estates,properties,rights,powers,trusts,:nddtztigsofhispredecessorin theCreditorsTrust

hereunderwithlikeeffectajiforikiballynâfnèd'héféih'.

e. TruxtContinuancq.Thedeath?msignasion,incompetency,orremovalof

theLiquidàtingTru'sieejhillöpkràt4tïéithzt.i('jtqmtiàéitth4'U,ieditor:Ttus,cteatedbythisTtust

Agreementnortorevokeanyexistingzgehçydreatedpurstlahit;ott'hetermsofthisTrustAgreement

orinvalidateinany action theretoforetakenby *uch Liquidating Trustee. ln theeventofthe

resignationorremovaloftheLiquidatingTrustee,suchLiquidatingTrusteeshal(i)promptly

executçanddeliyerany suçhdocllmçnts,'i.nstrumqqty,andothçrwritingasmaybenecessary to

ï

effçctthe.termim tipnpf. sqch.Llcgidpti.naTwstçç's:cqpagty'tlqàçrthi.,TrpqtAgreementandthe :î:q r -1*f . ë .: t.? . ( . ( .

conkeyancet?ftheTrustxEstgtçflhtpluld0. y'ipvhrtli.qtlipàjlg'fmfte4tothetemporaryorstlccessor

trusteei,(iil.bellvertothetenvorqv orsucqrssöf.trtisteeal1documents,instruments,rvcordà,an@

othérwkidngsrelàtlngto.thèCieitltbràrfruâfbrtristtzjtàteéjmaybeilgthipossesdionofsuéh

LitjuidàtlngTrusteè;and(i)Eoth:rWikea. sjlstand coo.p'* eràt:i'n vffèctizij''thetààjfetahd

assumptlonofhisdbllgâtiönàandftmctionàbythy'tènïporâryotsucdegsortfustee.

SECTION Vll1.SUPPLEMENTDANbAAT/NIIAWIXF,CTO THISLIQUIDATING TRUST

zlGREEM EN T

8.1 SupplemenisandAmèndmentj.Stlbjècttôth:provisionsofSections2,8.2,and

8.3hereof,atanytimeandfrom timetotime,andsubjecttoapprovalbytheBankruptcyCourtif

soughtbytheLiquidatingTrusteepursuanttoSection7.2ofthisTrustAgreement,theLiquidating

Trusteemayexecuteasupplementoramendmeniheretoforthepurposeofaddingprovisionsto,

orchangingoreliminatingprovisionsof,thisTrustAgreement,oramendmentstheretoirrovf#e;

however,thatnosuchsupplementoramendmentNhqll(i)requireanyBeneficiarytofurnishor

advancefundstotheLiquidaiingTrusteeorshallentailanyadditionalpersonalliabilityorthe

suln-enderofanyindividualrightonthepartofanyBeneficiaryexceptwiththewritlenconsentof

suchBeneficiary,or(ii)withouttheconsentofthoseBeneficiariesholdingnotlessthanseventyfivepercent(inaggregatedollaramount)oftheBeneficialInterests,changeormodifkanyother

provisionsfordistributionoftheTrustEstate.InnoeventshallthisTrustAgreementbeam ended

soastochangethepumosesoftheCreditorsTrustassetforth in Section2orthetreatlnentof

Claim sunderthePlanandthisTrustAgreement.

8.2 Liquidating Trustee,Declining to Execute Docum ents. If,in the reasonable

opinionoftheLiquidatingTrustee,anydocum entre'quiredtobeexecutedpursuantto Section 8.1

hereofmateriallyandadversely affectsany immunity orindemnityinfavoroftheLiquidating

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 82 of 89
!

TnzsteeunderthisTrusiAgmçrfznt;the,laiquidgt. ing Tmsteemày in his discretion dçclinçto

executesuchdocument.

8' .3 NbtickofF..4rm of'Sup.*'pv lhmqpf'an. dA. npndmenf,RçqpiriAgVbtqorfonsent.

A copyofeaéhamendmept()riwpplçmçpt(4r)@fk(lr'sllmmirytfereof)'shAllbvftzrnishçltpthe

Beneficiaries,promptly alkrthççxççutlopthçreof., çxcept:thatwith respectto any prpppsed

pmendmqntorsupplémçqtforghiçh.fh.p.çpnsçpygfthpBçnçfyçiariesis'reqpimb,iheTgmlofsuch.

proposed supplementorqmçnd.mentfbr'@,fq:itgpmmqrylhereqf)shgltbefumishedtothe

applicableBenefièiàrlespriortothç.tiquldqtlngTrusteeseèklngtheapprovqlthereofbyvoteor

conkentofsuchnecessaryparties.

8.4 Notice and Etfect'oftxecuted Amendment. Upon tàe execution ofany

declarationofamendmentorsupplement,this'TrustAgreementshallbedeemedtobemodified

andamendedinaccordancether'ewithandxtherespectiverights,limitationsofrights,obligations,

dutiesandimmunitiesunderthlsTrustAgreym:fltùfthèLiquidatingTrusteeandtheBeneficiaries

shallthereaherbedetermined,exdcisedaltd'ehfotced.hereuhdersubjectina1lrespectstosuch

rùodificàtièn and ameàdntentkM d :àllth: tdrmsàtld tbnditifms ofany suzh amendmehtor

supplementshallbetherebydtemedtobepartofihetèrmsandconditionsofthisTrustAgreement

foranyanda1lpurposes.

SECTION IX. M ISCELJA NEOUS.

J$ .'

9.1 TitlktjTttl#tEutàtyk:N4,Bvhtfidio '4'*:âhyQthùrpa# othtrthM'th:Cr4ditors Thatshéllhav:titl:to . .l ' '

.atlypAlQftliqTtqstEstàtiù

9*2 sâlezofA. àsétvbf. t.$4r.i,Ytl:xt. 'à. .k.ute.,Anysalqoxbtherqorweyahc:êf'ahyrasseis

oftheTrustEstate,orparfthereollbytheLkuidatlngTrusteemazeinaccordancewiththeterms

ofthisTrustAyreemçntshallhindth4Bçpçfiçigriejgndëjhall. bç4ffeçtiyçtokgnsferorçopveyall

right,titleandintqrestof'the'LiqqldxgtirfgTm jlçeundt1w Btpçllélvrie,inandxtp,suchasqetofthe

TrustEstate.

9.3 Notices.Unlessothem iseexpressl:specivelorpermittedbythetermsofthePlan

orthisTrustAgreement,aIlnoticesshallbeinwritinganddeliveredbyregisteredorcertifiedmail,

returnreceiptrequested,orbyahandorfacsimiletransmissiontandconfirmedbymail),inany

suchcaseaddressed asfollows:

lftotheLiquidatinzTrustee:

ThomasT.M cclendon

JONES & W ALDEN ,LLC

699PiedmontAveNE

Atilanta,Georgia30303

.

Jllcclendonltklone.sAvaIdenqcoln.

lftoanA,'Benejiciarv:

addressedtoitsIatestmailingaddressreflectedontheClaimsList.

16

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 83 of 89
IftotheDebtor:

TçtiG,Gâlàrdi

2146Hwy42Sngth

Floyilla,Georgié30216

wltffytupy'tu;

EouisG.M ùBryan

M çBryan,LLC ,

6849PeachtreeDunwoodjRoad

BuildingB-3,Suite100

Atlanta,Georgia30328

lmcbryana mcbryanlawzom

CounselforDebtor

Andatoov'tb:

ChrlstopàerW.Terry

BOYER TERRY LLC

348Cotton Avenue,Suite200

M acon,Georgia31,201

chiisctz)bovertrrto?,tqprlt

Cöunsei. forDtbttjx

9.4 Sqyqralglify..: Any.pmvkiop 4?ihis.'Ttuss.Acy44m4nt'whièh isbmhi.bited or

. k '< '*''

unenforceableinanyjurisbictiönshall,as'tosuchjurisdidlon,beineffectivetotheextehtofsuch

prohibitionorunepforceabili? withputipvglidqtipg$hemmgipingprovisiopsyhçreof,andanysuch

prohibitionorunenforcçabiilitvlpanyjgrisdeicfipntyh.Al1':qollnvglidqtepriçpderunenforceàblesuch .-

provisioninanyoiherjuflsdiciion.

9.5 Counterparts.ThisTrustAgreementmaybeexecutedin multiplecounteparts,

eachofwhichshallconstimteanoriginal,butal1ofwhichtogethershallconstituteoneandthe

sameinstrum ent.

9.6 Binding Agreement. A1lcovenàntsand agreementscontained herein shallbe

bindingupon,andinuretothebenetitotltheDebtorandherrespectivesuccessorsandassigns,the

Liquidating Trustee and hisrespectivesuccessors and assignsand any successorLiquidating

'TrusteeprovidedforinSection7,hisrespectivesuccessorsandassigns, andtheBeneficiaries,and

theirrespectivepersonalrepresentatives,successorsandassigns. Any request,notice,direction,

consent,waiverorotherinstrumentoractionby anypartyheretoorany Beneficiary shallbind

theirrespectiveheirs,personalrepresentatives,succesyorsand assigns.

9.7 No PersonalLiability ofBeneiciaries. The Beneficiarieswillnotincurany

personalliability throughtheirownership orpossession oftheirBeneficialInterests,exceptfor

taxesimposedontheBeneficiariespursuantto applicableprovisionsoffederal,stateorlocallaw

withrespecttothereceiptofsuchBeneficiallnterestsordistributionsfrom ortransactionsofthe

CreditorsTrustand othercharges specified herein. Liabilitiesofthe CreditorsTrustare to be

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 84 of 89
I

2

satisfiedinal1events(ihcluding.theèxhaustionQftheTrustEstate)exclusively9om theTrust

Estateand such liabilitiesarùnotto uttâch to örb4 paid fmm any amogntsdistributed tothe

Bençficiaries,regàrdlesspfth4tirh:gtwhkhsu4hd..iqtritwtijm lookplàçq,orfrèm th4ussetsof

theBeheliçiaziçsz

9.8 Headings. Thehexdingsofih4vqri4u:'Sv4tibnsherein greforconvenience of

'refefenceohlyand.shullrmtdbflpeötl.imitahy.4f$h.:'terms4tyruxisinpshqreuf.

9.9 Construction.Excvptwhçm thzççmt4xtplhçrwisbrequirqg,wordsiinpvrtiizgthe

masçplinegendershallincludçthefemininçun8(henetler,.ifappropriâte;wordsimportingthe

singularnumbershallincludetheplurqlpumbçrap.dviveyçrsq;andwordsimportingpersonsshal!

includepartnerships,assoclations,andcorporatlùns.

9.10 GoverningLaw.ThisTrustAgreçmeny;lncludingaI1mattersofconstruction,

validityandperformancçhemptlshgllinqll'regpectsg begovçm çdby,gndçopstrqedandinterpreted L

inaccordancewiththeinternallaws,pft.heStateof'Georgkiawiihoutreferencetothechoiceoflaw

provisionsofthemame.

9.11 Constructionwith thePlan.n ePlanisherebyincorporatedfulybyreference

andismadeapal'thereofforallpurposes.Inthe.leventofanyinconsistencyorcontlictbetween

theterms,conditions,definitionsrandprovisitmàofthlà,-fwjtAgteementandthetenns,conditions

andprovisionsofthe,Plan,theterfns,töàditiontkdéilhitibliààahdpro&isitms'èf.thqPlanàhàll

coùtrol.

9.12 S.ubjéd.t. oBàpkoptc#. Cèlid'@-rth.....i.tlé''d,lkti4A'jTh:BàfjkmptcyCtmit:hàlr4tàin

jufisdictiontwerthiscwditô/sThtkthè'.Txs.tEkiaft:k.t)au'l-tt.ju.dàtihgTruktee,àndth:.Dèbtötto

issuealordersandtotakeotheractiohsnecesjarytö:theimplementationofthisTrustAgreement,

suchjurisdictiontoinclude,withoutlimilvtiopit.hejurisdiçlirm çpntçmplqtedbySection1142of

theBafA uptcyCode.

9.13 Intention ofthe Partiqs, Th4 Dçbtpr,tlw Bçnçficiarihyand the Liquidating

TrusteeherebyexpresstheirintenttocreateandmaintaintheCredltorsTrustasaliquidatingtrust

forFederalincometaxpurposesinaccordancewithTreasuryRegulationj30l.770l-4(d)andasa

tgrantortrust''subjecttotheprovisipnsofSubchapterJ,Subpal-tEoftheIRC,andtheLiquidating

TwsteefulherrepresentsthattheCreditorsTrustshallnot:(a)receivetransfersoflistedstocksor

securities,anyreadily-marketableassets(otherthanthoseconstimtingtheTrustEstate),orany

asjetsofagoingbusiness;or(b)receiveandwillnotretainCashinexcessofareasonableamount

tomeetclaimsandcontingentliabilities,determinedinthereasonablediscretionoftheLiquidating

TrusteeinaccordancewiththeprovisionsofSection4and5hereof.

I'slknaturesonfollowingpage..l

18

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 85 of 89
IN WITNESSWHERE'0F,thepaljiç;Vyçeyçcqsçdandhavçhereuntocqusedthi,

LiquidatingTrustAgreemçnttohe4plyexçcutçdbqsQf$h:#yaq4ye< fistwrittçnabovç.

''HOM AST.M CCLENDON

' .''

. .. y ' ....

l.....z'.........'7)L'

'fhomasT.Mcclendoh

Title:LiquidatingTrustee

TERIG.GAI,ARDI

. $ A

e G

Térl,d.Galardi,Debtöt

19

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 86 of 89
!

!

:

:

EX R1T'GA ''

GV ARDjjCREbjsuygW UgT

ListtjfdtTlykt'Aà#ètê''

Cash:

1.. BalanceofTrustDeposits

RealPropertv:

i. 18511RoyalHammèckBlvd,NaplesjFlotida

j.4766Ffontag:Roud,ForystPek,Geôtgla

PromissorvNote:

4. GCTPromissoryNot:frnm TçtiG.vGalardi:;

$6,636,277.35

Est.$595,200.00

Ejt.$360,000.00

Est.$2,408,522.65

Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 87 of 89
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Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 88 of 89
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Case 1:20-cv-23230-AMC Document 212 Entered on FLSD Docket 10/23/2023 Page 89 of 89