Under the plan, unsecured creditors, who are owed about $430 million, would receive about $92 million, or 21 cents for each dollar they are owed. In addition, they will receive stock in the reorganized company, which will be named Ranger Industries Inc.
Under the plan, those who owed about 430 million would receive about 92 million, or 21 cents for each dollar they owed. They will also receive stock in the reorganized company.