Chieftain Sand seeks extension to formulate plan, avoid competition

By Caroline Salls

Pittsburgh, April 11 – Chieftain Sand and Proppant, LLC is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed April 10 with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company is asking the court to extend its exclusive plan-filing period through Aug. 7 and the solicitation period through Oct. 6.

“The debtors set ambitious goals for the initial months of their cases, and essentially met or exceeded those goals, particularly with respect to the event timeline for their sale process,” Chieftain Sand said in the motion.

The company said expiration of the exclusive periods at this point would increase the risk of competing Chapter 11 plans, “which inevitably would involve substantially increased administrative expenses and litigation.”

Chieftain Sand said the proposed extension would give it a chance to formulate and prosecute a Chapter 11 plan.

A hearing is scheduled for May 23.

New Auburn, Wis.-based Chieftain is a privately owned producer of hydraulic fracturing sand. The company filed for bankruptcy on Jan. 9 under Chapter 11 case number 17-10064.

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