The U.S. Bankruptcy Court approved Ezra Holdings’ motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including March 21, 2018 and July 11, 2018, respectively.
As previously reported, “The Debtors have made substantial progress in developing the Plan, the complexities of the transactions being negotiated have resulted in process delays beyond what the Debtors initially expected. In furtherance of the proposed transactions, the Debtors retained special transactional counsel, Foxwood LLC. In addition, the contemplated transactions involve complex applications of Singapore law and regulatory approvals that necessitate related approval processes in Singapore.”
In addition, “These additional approvals–necessary to ensure the feasibility of the transactions – require the proposed plan confirmation process begin in this Court in conjunction with a linked approval process before the Singapore Court….As part of the motion to approve the Disclosure Statement, the Debtors will request a joint status conference with all professionals and both Courts to propose the protocol for the dual-track process. The Debtors thus seek a further 30-day extension of the Exclusive Filing Period so the Debtors can finalize the underlying documents, and a further 90-day extension of the Exclusive Solicitation Deadline to provide time for the Debtors, the Courts and other parties-in-interest to address any cross-border issues involved in solicitation.”
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