The U.S. Bankruptcy Court approved Midway Gold’s sixth motion to extend the exclusive period during which the Company may solicit acceptances for its Chapter 11 plan through and including February 22, 2017.
As previously reported, “The Debtors have already complied with the Current Plan Exclusivity Period by filing the Plan and Disclosure statement prior to August 15, 2016. As a result of the Court’s September 14, 2016 Minute Order and the October 13, 2016 Adversary Proceeding Minute Order, the Debtors require an extension of the Current Acceptance Exclusivity Period, which expires on January 15, 2017.”
In addition, “Now that substantially all of the Debtors’ assets have been sold and the Debtors have filed their Amended Plan and Disclosure Statement, they are awaiting the Court’s ruling in the Adversary Proceeding, which will dictate the Debtors’ next steps. As such, Debtors require additional time to solicit acceptance of the Amended Plan. An extension of the Current Acceptance Exclusivity Period will not prejudice any creditor and is not being sought for purposes of delay or for any other improper purpose.”
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