EX-2.1 2 nhlt8kplan.txt FOURTH AMENDED JOINT PLAN UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF PENNSYLVANIA In re: SS SS NATIONAL HEALTH & SAFETY SS Case No. 99-18339DWS CORPORATION, SS Chapter 11 a Utah corporation, SS SS Debtor. SS FOURTH AMENDED JOINT PLAN OF REORGANIZATION Dated: August 21, 2000 Philadelphia, Pennsylvania Kevin J. Carey, Esq. Richard G. Grant Michael G. Menkowitz, Esq. Texas Bar No. 08302650 FOX, ROTHSCHILD, O'BRIEN & LAW OFFICES OF RICHARD G. GRANT FRANKEL, LLP 3102 Oak Lawn Ave., Suite 700 2000 Market Street, 10th Floor Dallas, Texas 75219 Philadelphia, PA 19103-3291 Telephone: 214-777-5081 Telephone: 215-299-2000 Facsimile: 214-777-5082 Facsimile: 215-299-2150 ATTORNEYS FOR DEBTOR Michael P. Massad Texas Bar No. 13164000 SHEINFELD, MALEY & KAY, P.C. 1700 Pacific, Suite 4400 Dallas, Texas 75201-4618 Telephone: 214-953-0700 Facsimile: 214-953-1189 ATTORNEYS FOR CO-PROPONENTS TABLE OF CONTENTS THE PLAN ............................ ..... 11.1 ASSUMPTION OF CERTAIN CONTRACTS AND LEASES ............................ DEBTOR'S PLAN OF 11.2 REJECTED IF NOT REORGANZIATION...................................................... ASSUMED ............................ ..... ARTICLE 1 11.3 BAR TO DEFINITIONS AND REJECTION INTERPRETATION............................................ DAMAGES ............................ ..... 1.1 DEFINITIONS..................................... 11.4 INSURANCE 1.2.INTERPRETATION....................................... POLICIES ............................ 1.3.REORGANIZED ARTICLE 12 RETENTION DEBTOR............................................... OF JURISDICTION ............................ 1.4.APPLICATION OF ..... 12.1 SCOPE OF DEFINITIONS AND JURISDICTION ............................ RULES OF 12.2 FAILURE OF THE CONSTRUCTION BANKRUPTCY CONTAINED IN COURT TO THE BANKRUPTCY EXERCISE CODE JURISDICTION ............................ 1.5 OTHER TERMS.......................................... ARTICLE 13 ARTICLE 2 MISCELLANEOUS CLASSIFICATION PROVISIONS ............................ OF CLAIMS................................................. 13.1 SETOFF RIGHTS ............................ ..... 2.1 CLAIMS 13.2 DISCHARGE ............................ CLASSIFIED........................................... 13.3 INJUNCTIONS ............................ 2.2.ADMINISTRATIVE 13.4 RESPONSIBLE CLAIMS AND PARTY PRIORITY TAX INJUNCTION ............................ CLAIMS............................................... 13.5 PRE-PETITION 2.3.CLAIMS............................................... DATE ARTICLE 3 LAWSUITS/INSURANCE ............................ IDENTIFICATION 13.6 EXCULPATIONS ............................ OF IMPAIRED 13.7 DE MINIMIS CLASSES OF DISTRIBUTIONS ............................ CLAIMS.................................................... 13.8 PAYMENT OF ARTICLE 4 PROVISIONS STATUTORY FEES ............................ FOR TREATMENT 13.9 POST-EFFECTIVE OF CLAIMS UNDER DATE FEES AND THE PLAN.................................................. EXPENSES OF ..... 4.1 TREATMENT OF PROFESSIONAL CLAIMS............................................... PERSONS ............................ ARTICLE 5 PROVISIONS 13.10 BANKRUPTCY FOR TREATMENT RESTRICTIONS ............................ OF UNCLASSIFIED 13.11 DISALLOWANCE CLAIMS UNDER AND THE PLAN.................................................. SUBORDINATION ..... 5.1 TREATMENT OF OF SUBORDINATED ADMINISTRATIVE CLAIMS AND CLAIMS............................................... PENALTY CLAIMS ............................ 5.2.TREATMENT OF 13.12 BINDING EFFECT ............................ PRIORITY TAX 13.13 GOVERNING LAW ............................ CLAIMS............................................... 13.14 MODIFICATION OF ARTICLE 6 ACCEPTANCE PLAN ............................ OR REJECTION OF 13.15 CREDITOR THE PLAN; DEFAULTS ............................ EFFECT OF 13.16 HEADINGS AND REJECTION BY TABLE OF ONE OR MORE CONTENTS ............................ CLASSES OF 13.17 SEVERABILITY ............................ CLAIMS.................................................... 13.18 SUBSTANTIAL ..... 6.1 CLASSES CONSUMMATION/CLOSING ENTITLED TO THE CASE ............................ VOTE................................................. 6.2.CLASS ACCEPTANCE REQUIREMENT.......................................... 6.3.CRAMDOWN............................................. ARTICLE 7 MEANS FOR IMPLEMENTATION OF THE PLAN............................................... ..... 7.1 CORPORATE RESTRUCTURE.......................................... 7.2.INFUSION OF NEW CAPITAL.............................................. 7.3.BOARDS OF DIRECTORS............................................ 7.4.OFFICERS............................................. 7.5.CHARTER AND BYLAWS............................................... 7.6.VESTING OF ASSETS............................................... 7.7.CORPORATE AUTHORITY............................................ 7.8.ASSUMPTION OF LIABILITIES.......................................... 7.9 SECURITIES LAW MATTERS.............................................. 7.10 CLAIMS ON FILE; NO ALLOWANCE OF UNTIMELY CLAIMS...................................... 7.11 INTEGRATION CLAUSE............................................... ARTICLE 8 PROVISIONS GOVERNING DISTRIBUTIONS............................................. ..... 8.1 DATE OF DISTRIBUTIONS........................................ 8.2.DISBURSING AGENT................................................ 8.3.MEANS OF CASH PAYMENT.............................................. 8.4.DELIVERY OF DISTRIBUTION......................................... 8.5.TIME BAR TO CASH PAYMENTS........................................ ARTICLE 9 PROCEDURES FOR RESOLVING AND TREATING CONTESTED AND DISPUTED CLAIMS UNDER THE PLAN............................................ ..... 9.1 OBJECTION DEADLINE............................................. 9.2.PROSECUTION OF OBJECTIONS........................................... 9.3.NO DISTRIBUTIONS PENDING ALLOWANCE............................................ 9.4 WITHHOLDING OF DISTRIBUTIONS ON ACCOUNT OF CONTESTED CLAIMS............................................... 9.5.DISTRIBUTIONS AFTER ALLOWANCE...................................... 9.6.DISTRIBUTIONS AFTER DISALLOWANCE......................................... ARTICLE 10 RIGHTS AND OBLIGATIONS OF THE DISBURSING AGENT..................................................... ..... 10.1 EXCULPATION................................... 10.2 POWERS OF THE DISBURSING AGENT................................................ 10.3 DUTIES OF THE DISBURSING AGENT................................................ ARTICLE 11 PROVISIONS GOVERNING EXECUTORY CONTRACTS AND UNEXPIRED LEASES UNDER 8/28/00 10:00 AM FOURTH AMENDED JOINT PLAN OF REORGANIZATION Page 2 DEBTOR'S PLAN OF (i) REORGANZIATION "Bankruptcy Court" shall mean the The Debtor, as Bankruptcy Court Debtor-in-possession in unit of the United the above-referenced States District Chapter 11 Case, proposes Court for the the following Plan of Eastern District of Reorganization for the Pennsylvania or such Debtor under chapter 11 other court having of the Bankruptcy Code. jurisdiction over the Chapter 11 Case. ARTICLE DEFINITIONS AND (j) INTERPRETATION "Bankruptcy Rules" shall mean the . DEFINITIONS Federal Rules of Bankruptcy The capitalized Procedure, as terms used herein shall prescribed by the have the respective United States meanings set forth below: Supreme Court pursuant to section (a) 2075 of title 28 of "Administrative the United States Claim" shall mean a Code. Claim entitled to priority under (k) "Bar Date" sections 503(b) and shall mean the final 507(a)(1) of the date for the filing Bankruptcy Code in of proofs of Claims the Chapter 11 Case set by the of the Debtor, Bankruptcy Court as including, without August 31, 1999, or limitation, Fee such other date as Claims, Cure may apply to a Payments, any actual particular Claim and necessary pursuant to a duly expenses of entered order of the preserving the Bankruptcy Court. Debtor's estate, any fees or charges assessed against the Debtor's estate under section 1930, chapter 123 of title 28 of the United States Code and such other Claims as ordered by the Bankruptcy Court. (b) "Affiliate" shall have the meaning assigned to such term in section 101(2) of the Bankruptcy Code. (c) "Allowed," when used with respect to any Claim, except for a Claim that is an Administrative Claim, shall mean (1) such Claim to the extent it is not a Contested Claim; (2) such Claim to the extent it may be set forth pursuant to any stipulation or agreement that has been approved by Final Order; or (3) a Contested Claim, proof of which was filed timely with the Bankruptcy Court and (A) as to which no objection was filed by the Objection Deadline, unless such Claim is to be determined in a forum other than the Bankruptcy Court, in which case such Claim shall not become Allowed until determined by Final Order of such other forum and Allowed by Final Order of the Bankruptcy Court; or (B) as to which an objection was filed by the Objection Deadline, to the extent Allowed by Final Order. (d) "Allowed Administrative Claim" shall mean an Administrative Claim that has become "Allowed" pursuant to the procedures set forth in Article 5 of the Plan. (e) "Assumed Contracts" shall mean any Executory Contract which the Debtor has designated for assumption by a written pleading filed prior to the Confirmation Hearing or presented at the Confirmation Hearing. (f) "Ballot" shall mean the Ballot to be used by creditors to cast their votes to accept or reject the Plan. (g) "Balloting Agent" shall mean the Debtor. (h) "Bankruptcy Code" shall mean the Bankruptcy Reform Act of 1978, as amended, and codified at title 11 of the United States Code. (l) "Business Day" which a proof of shall mean any day on Claim has been filed which commercial banks with the Bankruptcy are open for business in Court, to the extent Philadelphia, the proof of Claim Pennsylvania. amount exceeds the scheduled amount; (m) "Cash" (3) that is not shall mean legal listed in the tender of the United Debtor's Schedules, States of America or but as to which a Cash Equivalents, proof of Claim has except in Section been filed with the 4.1(b)(iii)(5) Bankruptcy Court; or herein, where it (4) as to which an shall solely mean objection has been legal tender of the filed. United States of Notwithstanding the America. foregoing, after the Objection Deadline, (n) "Cash only Claims to which Equivalents" shall an Objection has mean short-term been filed shall be liquid investments deemed Contested that are readily Claims. convertible to known amounts of legal (x) "Contested tender of the United Claims Escrow" shall States of America mean the escrow for and which present an the segregation, insignificant risk safekeeping and of changes in value. ultimate disposition of the Withheld (o) "Chapter Distribution Amount 11 Case" shall mean on account of the case commenced Contested Claims. under chapter 11 of the Bankruptcy Code (y) by the Debtor on the "Contracts" shall Petition Date. mean all executory contracts and (p) "Claim" unexpired leases as shall mean (1) any such terms are used right to payment within Bankruptcy from the Debtor, Code section 365 to whether or not such which the Debtor was right is reduced to a party as of the judgment, Petition Date. liquidated, unliquidated, fixed, (z) contingent, matured, "Committee" shall unmatured, disputed, mean any Official undisputed, legal, Committee of equitable, secured Unsecured Creditors or unsecured; (2) appointed in the any right to an Chapter 11 Case. equitable remedy for breach of (aa) "Common performance if such Stock" or "Common breach gives rise to Shares" shall mean a right of payment common equity from the Debtor, interests in the whether or not such Debtor and right to an Reorganized Debtor equitable remedy is defined as "Common reduced to judgment, Stock" or "Common fixed, contingent, Shares" in the matured, unmatured, Articles of disputed, Incorporation of the undisputed, secured Debtor. or unsecured; or (3) any right under (bb) "Common section 502(h) of Options" shall mean the Bankruptcy Code. any outstanding rights to purchase (q) "Class A Common Shares Warrants" shall mean created by the Stock equity securities of Option agreements the Reorganized with R. Dennis Debtor which shall Bowers, Patrica S. have the respective Bathurst and Roger rights and H. Folts dated June obligations set 6, 1995, April 30, forth to Class A 1996, and February Warrants in Section 20, 1998. 7.1 hereof. (cc) "Common (r) "Class B Warrant" shall mean Warrants" shall mean any outstanding equity securities of rights to purchase the Reorganized Common Shares Debtor which shall created by the have the respective following Warrant rights and Certificates: obligations set forth to Class B Warrants in Section CERT. NO. 7.1 hereof. (s) "Collateral" shall mean any property of the Debtor subject to a valid, enforceable and non- avoidable Lien to secure the payment of a Claim. (t) "Confirmation Date" shall mean the date on which the Clerk of the Bankruptcy Court enters the Confirmation Order. (u) "Confirmation Hearing" shall mean the hearing held by the Bankruptcy Court pursuant to Bankruptcy Code section 1128. (v) "Confirmation Order" shall mean the order of the Bankruptcy Court confirming the Plan. (w) "Contested," when used with respect to a Claim, shall mean a Claim against any of the Debtor (1) that is listed in the Debtor's Schedules as disputed, contingent or unliquidated; (2) that is listed in the De