Impac Mortgage files prepackaged Chapter 11 in Delaware court under restructuring deal

Impac Mortgage Holdings, Inc.

Impac Mortgage Holdings, Inc.

IMPM

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  • Impac Mortgage Holdings filed for Chapter 11 protection in U.S. Bankruptcy Court for District of Delaware to implement a prepackaged restructuring plan.
  • Restructuring Support Agreement dated April 22, 2026 has support from senior secured creditor Hildene Re SPC Ltd. and beneficial holders of 100% of junior subordinated notes.
  • Joint prepackaged plan received 100% support from all voting classes; plan confirmation hearing sought for later in May 2026.
  • Hildene Re is set to provide debtor-in-possession financing; exit financing also contemplated upon emergence.
  • Plan terms call for Hildene Re to become 100% owner on exit; existing equity to be cancelled.


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