The US Bankruptcy Court approved the amended disclosure statement for Pitt Penn Holdings, Inc on March 22, 2013. Industrial Enterprises of America, Inc. and its subsidiaries filed their modified third amended disclosure statement in the Court on March 21, 2013. Omtammot LLC, the secured creditor, filed its supplement to second amended reorganization plan on May 21, 2013.

The deadline to vote on the plans is May 6, 2013 and the confirmation hearing for the plans has been scheduled for May 22, 2013.