Xtera Communications filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including May 15, 2017 and July 14, 2017, respectively.
The motion explains, “If this request is granted, the Exclusivity Periods would be extended by approximately 50 days for debtor Xtera Comunicacoes do Brasil LTDA and 60 days for the other Debtors. The Debtors submit that a single deadline for all Debtors in these cases, regardless of their respective petition date, will aid in the efficient administration of these chapter 11 cases….Since the Petition Date, the Debtors have worked diligently to resolve issues that are critical to a successful sale and wind down of their businesses.”
The Court established March 14, 2017 as the objection deadline.
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