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    SEC Filings

    Form 8-K
    DITECH HOLDING CORP filed this Form 8-K on 04/03/2019
    Document Outline
    Entire Document (1327.8 KB)
    Subdocument 1 - 8-K - 8-K
    Page 1 - UNITED STATES
    Page 2 - N/A
    Page 3 - Cautionary Statements Regarding Forward-Looking Information
    Page 4 - N/A
    Page 5 - N/A
    Page 6 - EXHIBIT INDEX
    Page 7 - SIGNATURE
    Subdocument 2 - EX-99.1 - EX-99.1
    Page 1 - Exhibit 99.1
    Page 2 - N/A
    Page 3 - N/A
    Page 4 - N/A
    Page 5 - N/A
    Page 6 - Debtor and, collectively, the Debtors ) propose the following joint chapter 11 plan of reorganizatio
    Page 7 - Amended and Restated Credit Facility Agreement means, solely with respect to the Reorganization Tran
    Page 8 - Benefit Plans means each (a) employee benefit plan, as defined in section 3(3) of ERISA and (b) all
    Page 9 - Confirmation Order means the order of the Bankruptcy Court confirming the Plan pursuant to section 1
    Page 10 - DIP Order means the interim order approving the DIP Motion (ECF No. 53) and, upon entry, the final o
    Page 11 - ERISA means the Employee Retirement Income Security Act of 1974, as amended.
    Page 12 - Exit Working Capital Facility Lenders means the Persons party to the Exit Working Capital Facility A
    Page 13 - Impaired means, with respect to a Claim, Interest, or Class of Claims or Interests, impaired within
    Page 14 - National Founders Facility Agreement means National Founders Facility Agreement as defined in the DI
    Page 15 - Prepetition Administrative Agent means Credit Suisse AG, Cayman Islands Branch (formerly Credit Suis
    Page 16 - Related Parties means with respect to any Exculpated Party or any Released Party, such Entities pred
    Page 17 - Second Lien Noteholders means the holders of Second Lien Notes in their respective capacities as suc
    Page 18 - Wind Down Estates means, solely with respect to the Sale Transaction, the Debtors pursuant to and un
    Page 19 - ARTICLE II ADMINISTRATIVE EXPENSE AND PRIORITY CLAIMS.
    Page 20 - ARTICLE III CLASSIFICATION OF CLAIMS AND INTERESTS.
    Page 21 - ARTICLE IV TREATMENT OF CLAIMS AND INTERESTS.
    Page 22 - N/A
    Page 23 - If the Sale Transaction occurs, on the Effective Date, such holder s Pro Rata share of Net Cash Proc
    Page 24 - If the Sale Transaction occurs, on the Effective Date, such holder s Pro Rata share of Net Cash Proc
    Page 25 - If the Sale Transaction occurs, (A) on the Effective Date, all Parent Equity Interests shall be canc
    Page 26 - If the Reorganization Transaction occurs, on the Effective Date, all Parent Equity Interests shall b
    Page 27 - Election Date ), holders of at least 662/3% in aggregate principal amount outstanding under the Prep
    Page 28 - Wind Down and Dissolution of the Debtors.
    Page 29 - Amended and Restated Credit Facility.
    Page 30 - Exit Warehouse Facilities.
    Page 31 - Reorganized Debtors Authority.
    Page 32 - Freddie Mac.
    Page 33 - Ginnie Mae. Notwithstanding anything herein to the contrary, (i) the Debtors mortgage servicing and
    Page 34 - N/A
    Page 35 - N/A
    Page 36 - N/A
    Page 37 - ARTICLE VI DISTRIBUTIONS.
    Page 38 - N/A
    Page 39 - N/A
    Page 40 - N/A
    Page 41 - N/A
    Page 42 - ARTICLE VII PROCEDURES FOR DISPUTED CLAIMS.
    Page 43 - N/A
    Page 44 - ARTICLE VIII EXECUTORY CONTRACTS AND UNEXPIRED LEASES.
    Page 45 - Any objection by a counterparty to an executory contract or unexpired lease to the proposed assumpti
    Page 46 - N/A
    Page 47 - N/A
    Page 48 - ARTICLE IX CONDITIONS PRECEDENT TO CONFIRMATION OF PLAN AND EFFECTIVE DATE.
    Page 49 - Prerequisite Condition ) may be required to occur prior to another condition precedent (a Subsequent
    Page 50 - ARTICLE X EFFECT OF CONFIRMATION OF PLAN.
    Page 51 - Upon entry of the Confirmation Order, all holders of Claims and Interests and other parties in inter
    Page 52 - Released Parties or the property of any of the Released Parties; (iii) creating, perfecting, or othe
    Page 53 - Third-Party Releases.
    Page 54 - Reorganization Transaction or the Sale Transaction, as applicable, the Plan, or the solicitation of
    Page 55 - ARTICLE XI RETENTION OF JURISDICTION.
    Page 56 - N/A
    Page 57 - ARTICLE XII MISCELLANEOUS PROVISIONS.
    Page 58 - N/A
    Page 59 - N/A
    Page 60 - N/A
    Page 61 - N/A
    Page 62 - N/A
    Page 63 - N/A
    Page 64 - N/A
    Page 65 - N/A
    Subdocument 3 - EX-99.2 - EX-99.2
    Page 1 - Exhibit 99.2
    Page 2 - A SOLICITATION OF VOTES IS BEING CONDUCTED TO OBTAIN SUFFICIENT ACCEPTANCES OF THE JOINT CHAPTER 11
    Page 3 - HOLDERS OF CLAIMS OR INTERESTS SHOULD NOT CONSTRUE THE CONTENTS OF THIS DISCLOSURE STATEMENT AS PROV
    Page 4 - ARE NOT LIMITED TO, THOSE FACTORS, RISKS, AND UNCERTAINTIES DESCRIBED IN MORE DETAIL UNDER THE HEADI
    Page 5 - TABLE OF CONTENTS
    Page 6 - N/A
    Page 7 - EXHIBIT
    Page 8 - I.
    Page 9 - Reorganization Transaction ). As a toggle to the Reorganization Transaction, the Restructuring Suppo
    Page 10 - Transaction ), as follows: (i) a Reorganization Transaction, (ii) a Master Servicing Transaction (as
    Page 11 - THE DEBTORS SUPPORT CONFIRMATION OF THE PLAN AND URGE ALL HOLDERS OF CLAIMS ENTITLED TO VOTE ON THE
    Page 12 - PLAN BUT DO NOT OPT-OUT OF THE RELEASES CONTAINED IN SECTION 10.6(b) OF THE PLAN, ARE DEEMED TO HAVE
    Page 13 - N/A
    Page 14 - N/A
    Page 15 - N/A
    Page 16 - PLEASE TAKE NOTICE THAT ALL HOLDERS OF GENERAL UNSECURED CLAIMS, INCLUDING BORROWERS OF LOANS AND/OR
    Page 17 - for purposes of this Disclosure Statement to the extent that a statement contained herein or in any
    Page 18 - UPB ) of the loans originated by Ditech Financial during this time period, approximately 30% were el
    Page 19 - Fannie Sales Agreements and Freddie Sales Agreements, and collectively, the GSE Sales Agreements ).
    Page 20 - Ginnie Buyouts ).
    Page 21 - REO Property ) of the Debtors or third-party reverse mortgage servicers or investors.
    Page 22 - N/A
    Page 23 - The Company s operations are conducted in the United States and are subject to extensive regulation
    Page 24 - N/A
    Page 25 - As of the Commencement Date, the Debtors have outstanding first lien secured debt obligations in the
    Page 26 - N/A
    Page 27 - III.
    Page 28 - Special Committee ), which is composed of four (4) DHCP independent directors. The
    Page 29 - The Company undertook an extensive marketing effort (the Prepetition Marketing Process ), including
    Page 30 - Notwithstanding the Debtors good faith efforts to cooperate with NRM throughout the Company s strate
    Page 31 - Before the termination of the Forbearance Agreements on February 8, 2019, the Company entered into n
    Page 32 - To address the working capital needs of the Debtors and support the transactions contemplated by the
    Page 33 - To avoid any disruption to their business operations, the Debtors have obtained final relief to cont
    Page 34 - Operating Undertakings ) and to seek Bankruptcy Court approval of the Operating Undertakings.
    Page 35 - On February 27, 2019, the Official Committee of Unsecured Creditors (the Creditors Committee ) was a
    Page 36 - Other Litigation
    Page 37 - V.
    Page 38 - N/A
    Page 39 - N/A
    Page 40 - N/A
    Page 41 - If the Sale Transaction occurs, on the Effective Date, such holder s Pro Rata share of Net Cash Proc
    Page 42 - If the Sale Transaction occurs, on the Effective Date, such holder s Pro Rata share of Net Cash Proc
    Page 43 - N/A
    Page 44 - If the Sale Transaction occurs, (A) on the Effective Date, all Parent Equity Interests shall be canc
    Page 45 - Election Date ), holders of at least 662/3% in aggregate principal amount outstanding under the Prep
    Page 46 - Sale Transaction. The Debtors shall fund distributions and satisfy applicable Allowed Claims and All
    Page 47 - Amended and Restated Credit Facility
    Page 48 - Exit Warehouse Facilities
    Page 49 - Officers and Board of Directors
    Page 50 - N/A
    Page 51 - no lien or security interest shall (a) attach to, modify, include or otherwise affect mortgage servi
    Page 52 - Employee Arrangements ). Notwithstanding the foregoing, if an Employee Arrangement, other than any p
    Page 53 - N/A
    Page 54 - N/A
    Page 55 - N/A
    Page 56 - N/A
    Page 57 - N/A
    Page 58 - N/A
    Page 59 - N/A
    Page 60 - N/A
    Page 61 - N/A
    Page 62 - N/A
    Page 63 - Any objection by a counterparty to an executory contract or unexpired lease to the proposed assumpti
    Page 64 - N/A
    Page 65 - N/A
    Page 66 - N/A
    Page 67 - N/A
    Page 68 - Prerequisite Condition ) may be required to occur prior to another condition precedent (a Subsequent
    Page 69 - Upon entry of the Confirmation Order, all holders of Claims and Interests and other parties in inter
    Page 70 - Except as expressly provided in the Plan, the Confirmation Order, or a separate order of the Bankrup
    Page 71 - marketing and sale process, the purchase, sale, or rescission of the purchase or sale of any Securit
    Page 72 - votes with respect to the Plan, in all cases based upon any act or omission, transaction, agreement,
    Page 73 - N/A
    Page 74 - N/A
    Page 75 - N/A
    Page 76 - N/A
    Page 77 - N/A
    Page 78 - N/A
    Page 79 - VI.
    Page 80 - VII.
    Page 81 - VIII.
    Page 82 - Ditech Group ). The Debtors estimate that, as of January 1, 2019, the Ditech Group had incurred, for
    Page 83 - Pre-Change Losses ) will be subject to additional limitations under section 382 and 383 of the Tax C
    Page 84 - 382(l)(5) Exception ). The IRS has in private letter rulings applied the 382(l)(5) Exception on a co
    Page 85 - N/A
    Page 86 - original issue discount or OID ). If the New Term Loans do not constitute securities, then a U.S. Ho
    Page 87 - N/A
    Page 88 - PIK interest ); the amount of PIK interest payable on the New Term Loan will be included in the dete
    Page 89 - N/A
    Page 90 - N/A
    Page 91 - IX.
    Page 92 - N/A
    Page 93 - Liquidation Analysis ), for a discussion of the effects that a chapter 7 liquidation would have on t
    Page 94 - N/A
    Page 95 - N/A
    Page 96 - N/A
    Page 97 - Ginnie Mae Guaranty Agreement ), Ginnie Mae may terminate Ditech Financial for cause as the issuer o
    Page 98 - N/A
    Page 99 - N/A
    Page 100 - N/A
    Page 101 - X.
    Page 102 - DITECH BALLOT PROCESSING
    Page 103 - Voting Class or the Voting Claims ).
    Page 104 - N/A
    Page 105 - XI.
    Page 106 - Counsel to the Debtors at:
    Page 107 - Counsel to the Creditors Committee at:
    Page 108 - N/A
    Page 109 - N/A
    Page 110 - N/A
    Page 111 - XII.
    Page 112 - N/A
    Page 113 - XIII.
    Page 114 - N/A
    Page 115 - N/A
    Page 116 - N/A
    Page 117 - Exhibit A
    Page 118 - Exhibit B
    Page 119 - EXHIBIT C
    Page 120 - EXHIBIT D
    Page 121 - FINANCIAL INFORMATION AND PROJECTIONS
    Page 122 - N/A
    Page 123 - General Assumptions and Methodology
    Page 124 - New Term Loans ) and (iii) New Common Stock which will be in a form and manner acceptable to the Req
    Page 125 - Projected Income Statement
    Page 126 - Projected Balance Sheet
    Page 127 - EXHIBIT E1

     

     

     

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