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Docket # 1147 – Extension of Plan Filing and Acceptance DatesYou may recall that on February 1, 2017 Ultra filed a motion with the court to extend their period to file a plan to June 29, 2017. The motion included a request to extend the time they have to solicit acceptances of the plan to August 29, 2017. The motion was to be heard by the court on February 22, 2017. (See Docket 1049 and message #37480). On February 17, 2017 Ultra filed an amendment to this motion. In the amended motion Ultra only asks to extend their period to file a plan to April 15, 2017 and to only extend their time to solicit acceptances of the plan to June 15, 2017. The motion is still to be heard by the court on February 22, 2017. I found the February 1, 2017 motion regarding extensions unsettling but I take this revised motion as good news for several reasons: -it is 2 ½ months earlier than the motion put forward on February 1, 2017 and only about 6 weeks behind the original dates (March 1, 2017 and May 1, 2017 respectively) that were put forward in December 2016. -it was agreed to by most (all?) of the creditor committees and the equity holders committee. -Ultra already has its plan on file and the hearing date to consider confirmation of the plan is set for March 14 which is only about a week behind the date we were given back in December 2016.
Anyway, I take this as good news.
Regards,
Chris |
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Msg # | Subject | Author | Recs | Date Posted |
37520 | Re: Docket # 1147 – Extension of Plan Filing and Acceptance Dates | RedSox10NYY3 | 1 | 2/19/2017 8:31:07 PM |