BSPV-Plano seeks exclusivity extension as mediation continues

By Sarah Lizee

Olympia, Wash., Oct. 27 – BSPV-Plano, LLC filed a third motion to extend its exclusive periods to file a Chapter 11 plan and solicit acceptances with the U.S. Bankruptcy Court for the Eastern District of Texas.

The company has asked the court to extend the plan filing period through Nov. 30 from Oct. 31 and the solicitation period through Jan. 31 from Dec. 31.

The company said that, beginning in August, it opened negotiations with its bond trustee regarding the terms of a plan of reorganization. An in-person mediation session took place on Sept. 27.

No settlement was reached, but the parties agreed to continue negotiations. The debtor said the mediator is planning to hold another in-person session regarding a plan.

The Plano, Tex.-based company was formed in May 2018 to acquire, own, develop and operate an independent senior luxury apartment community known as the Bridgemoor at Plano. It filed Chapter 11 bankruptcy on March 1, 2022 under case number 22-40276.

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