The U.S. Bankruptcy Court issued an order approving UCI Holdings’ motion to extend the exclusive period by 90 days during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including December 29, 2016 and February 27, 2017, respectively.
As previously reported, “Absent an extension of the Exclusive Periods, any party in interest could propose a plan of reorganization for some or all of the Debtors. The filing of a competing plan would cause concern among the Debtors’ customers and vendors, potentially leading to cascading operational disruptions that could unwind many of the Debtors’ significant achievements to date and derail the Debtors’ efforts to effectuate an orderly reorganization. Accordingly, the Debtors request that the Court enter the Proposed Order extending the Exclusive Periods.”
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