Loyalty Ventures Inc. (23-90111) Impaired Deemed to Reject

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION

PLEASE TAKE NOTICE THAT on March 21, 2023, the United States Bankruptcy Court for the Southern District of Texas (the “Court”) entered an order [Docket No. 136] (the “Conditional Disclosure Statement Order”) that, among other things:  (a) conditionally approved the Disclosure Statement as set forth in the Combined Disclosure Statement and Joint Chapter 11 Plan of Loyalty Ventures Inc. and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 127] (as may be amended or supplemented from time to time and including all exhibits and supplements thereto, the “Plan” or “Disclosure Statement” or “Combined DS and Plan,” as applicable) as containing adequate information, as required under section 1125(a) of title 11 of the United States Code (the “Bankruptcy Code”); and (b) authorized the Debtors to solicit votes with regard to the acceptance or rejection of the Plan.²

PLEASE TAKE FURTHER NOTICE THAT the Combined DS and Plan, the Conditional Disclosure Statement Order and other documents and materials included in the Solicitation Package may be obtained by (a) accessing the Solicitation Agent’s website at https://cases.ra.kroll.com/LVI, (b) writing to the Solicitation Agent at Loyalty Ventures Inc. Ballot Processing Center, c/o Kroll Restructuring Administration LLC, 850 Third Avenue, Suite 412, Brooklyn, NY 11232, (c) emailing LVIInfo@ra.kroll.com, (d) calling the Solicitation Agent’s information line with respect to the Debtors at (833) 570-5238 (U.S. and Canada, Toll Free) or +1 (646) 440-4764 (International, Toll) and/or (e) visiting the website maintained by the Court at https://ecf.txsb.uscourts.gov/ (PACER account required).

PLEASE TAKE FURTHER NOTICE THAT you are receiving this notice because, pursuant to the terms of Articles V and VII of the Plan and the applicable provisions of the Bankruptcy Code, your Claim(s) against the Debtors or Interest(s) in the Debtors is/are Impaired and you will receive no distribution on account of such Claim(s) or Interest(s) under the Plan and, pursuant to Bankruptcy Code section 1126(g), you are deemed to have rejected the Plan and are not entitled to vote on the Plan.  Accordingly, this notice and the Combined Hearing Notice are being sent to you for informational purposes only.

ALL HOLDERS OF CLAIMS OR INTERESTS THAT DO NOT FILE AN OBJECTION WITH THE BANKRUPTCY COURT IN THE CHAPTER 11 CASES THAT EXPRESSLY OBJECTS TO THE INCLUSION OF SUCH HOLDER AS A RELEASING PARTY UNDER THE PROVISIONS CONTAINED IN ARTICLE XII.C OF THE PLAN OR DO NOT ELECT TO OPT OUT OF THE PROVISIONS CONTAINED IN ARTICLE XII.C OF THE PLAN IN A BALLOT OR NOTICE DISTRIBUTED BY THE DEBTORS WILL BE DEEMED TO HAVE EXPRESSLY, UNCONDITIONALLY, GENERALLY, INDIVIDUALLY AND COLLECTIVELY CONSENTED TO THE RELEASE AND DISCHARGE OF ALL CLAIMS AND CAUSES OF ACTION AGAINST THE DEBTORS AND THE RELEASED PARTIES.  BY OBJECTING TO OR ELECTING TO OPT OUT OF THE RELEASES SET FORTH IN ARTICLE XII.C OF THE PLAN, YOU WILL FOREGO THE BENEFIT OF OBTAINING THE RELEASES SET FORTH IN ARTICLE XII.B OF THE PLAN IF YOU ARE A RELEASED PARTY IN CONNECTION THEREWITH.  PLEASE BE ADVISED THAT YOUR RECOVERY UNDER THE PLAN WILL BE THE SAME IF YOU OPT OUT. 

PLEASE TAKE FURTHER NOTICE THAT if you have any questions about the status of any of your Claim(s), you should contact the Debtors in accordance with the instructions provided above.

Dated: March 21, 2023                                  

Houston, Texas                                            

/s/ Matthew D. Cavenaugh                            

¹       The Debtors in these chapter 11 cases, along with the last four digits of the Debtors’ tax identification numbers, are:  Loyalty Ventures Inc. (3472); LVI Lux Holdings S.à r.l. (5350); LVI Sky Oak LLC (1657); and Rhombus Investments L.P. (7493).  The location of the Debtors’ service address for purposes of these chapter 11 cases is: 8235 Douglas Avenue, Suite 1200, Dallas, Texas 75225.

²        Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Combined DS and Plan or the Conditional Disclosure Statement Order, as applicable.