AeroCentury gets exclusivity extension in case plan not OK’d in time

By Sarah Lizee

Olympia, Wash., Aug. 12 – AeroCentury Corp. secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the plan filing period through Oct. 25 and the solicitation period through Jan. 24, 2022.

As previously reported, the company filed a plan and related disclosure statement on June 22. The court gave interim approval of the combined plan and statement on July 12.

A hearing on final confirmation of the plan is scheduled for Aug. 31. The previous exclusive plan filing period expired on July 27 and the solicitation period on Sept. 27.

“The debtors seek 90-day extensions of the exclusive periods so that they may continue to pursue a value-maximizing resolution to these Chapter 11 cases, and in an absolute abundance of caution to preserve its rights if the current combined disclosure statement and plan is not confirmed as scheduled,” the company said in its motion.

AeroCentury is an aircraft operating lessor and finance company based in Burlingame, Calif. The company filed bankruptcy on March 29 under Chapter 11 case number 21-10636.

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