Country Place seeks exclusivity extension to complete sale process

By Sarah Lizee

Olympia, Wash., Sept. 8 – CP Holdings LLC, which does business as Country Place Senior Living, is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the plan filing period through Jan. 18, 2022 and the solicitation period through March 17, 2022.

The company said the extension will provide the debtors and their advisers the opportunity to complete their marketing and sale process, while concurrently resolving counts in an adversary proceeding that must be resolved in order for the debtors to close on the sale of their assets and equity interests and, thereafter, analyze their options to emerge from Chapter 11.

A hearing is scheduled for Oct. 26.

Dallas-based Country Place develops and operates rural-based aged-care assisted living and memory care facilities. The company filed bankruptcy on June 20 under Chapter 11 case number 21-10950.

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