UCI Holdings filed with the U.S. Bankruptcy Court a second motion to extend the exclusive period by 60 days during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including February 27, 2017, and April 28, 2017, respectively.
The motion explains, “Subsequent to the filing and approval of the First Exclusivity Motion, the Debtors expended considerable time and effort obtaining approval of the Disclosure Statement, commencing and completing the Plan solicitation and voting tabulation process, and pursuing confirmation of the Plan. Ultimately, the Debtors’ significant efforts resulted in a fully consensual reorganization and the Court’s entry of the Confirmation Order on December 6, 2016.”
In addition, “Despite the progress made in these chapter 11 cases thus far, the Effective Date of the Plan has not yet occurred. Accordingly, to protect the Debtors’ rights in the unlikely event that the Plan does not become effective, the Debtors request entry of the Proposed Order granting an extension of the Exclusive Periods for a period of 60 days.” The Court scheduled a February 21, 2017 hearing to consider the motion, with objections due by January 12, 2017.
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