Quicksilver Resources filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Debtors can file a Chapter 11 plan and solicit acceptances thereof through and including August 20, 2016 and September 10, 2016, respectively.
The motion explains, “The parties are in the process of finalizing the Plan, disclosure statement, and other Plan-related documents. The Debtors believe that, by taking the additional time necessary to gain the consensus and support of these creditors with respect to the Plan documents, the likelihood of a smooth, consensual solicitation and confirmation process will be substantially increased. Garnering this support will also decrease the risks and costs of potential Plan-related litigation, which will ultimately inure to the benefit of the Debtors’ stakeholders.”
The Court scheduled a June 21, 2016 hearing to consider the motion, with objections due by May 31, 2016. Read more Quicksilver Resources bankruptcy news.
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