CIII Holdings filed with the U.S. Bankruptcy Court a motion for entry of an order adjourning all of the Debtors’ matters (collectively, the “October 6 Matters”) – along with all related objection deadlines – that are currently scheduled to be heard on October 6, 2017, including the hearing and objection deadline with respect to the Prepackaged Joint Chapter 11 Plan of Reorganization and related Disclosure Statement.
The motion explains, “At the October 6 Hearing, if the Court grants the Equity Committee Motion and also goes forward with the other October 6 Matters, then the newly formed equity committee will effectively be incapacitated: such committee will not yet be constituted by the United States Trustee, and will be unable to review and respond to any of the October 6 Matters, including approval of the Disclosure Statement and confirmation of the Plan. CIII Holdings files the instant motion out of an abundance of caution to ensure that if appointed, the equity committee is provided the appropriate time to perform its statutory duties in these cases.”
In addition, “Currently, objections to the Disclosure Statement and Plan are due on September 28, 2017, and approval of the Disclosure Statement and confirmation of the Plan is scheduled to be considered at the October 6 Hearing.” The Court scheduled an October 6, 2017 hearing to consider the adjournment motion, with objections due by September 29, 2017.
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