RESTRUCTURING SUPPORT AGREEMENTRestructuring Support Agreement • July 23rd, 2020 • IMH Financial Corp • Real estate • New York
This RESTRUCTURING SUPPORT AGREEMENT (including all annexes, exhibits, and schedules, the “Agreement”) dated as of July 23, 2020, is entered into by and among:
June 11, 2020 JP Morgan Chase Funding Inc. New York, NY 10179 Attention: Daniel Rood JCP Realty Partners, LLC 11150 Santa Monica Blvd., Suite 1400 Los Angeles, CA 90025 Attention: Jay Wolf Re: IMH Financial Corporation, a Delaware corporation (the...IMH Financial Corp • July 23rd, 2020 • Real estate
This letter (this “Letter”) sets forth proposed terms and conditions of a reorganization of the Company under Chapter 11 of the United States Bankruptcy Code (the “Code”). The Company believes that in the absence of the restructuring transactions described herein (the “Restructuring”), the Company would be required to liquidate and, at a minimum, common equity holdings will be worthless, while if successful the Restructuring will result in a payment to common stockholders.
