CalPlant wins 120-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Feb. 11 – CalPlant I, LLC and CalPlant I Holdco, LLC received a 120-day extension of their exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the plan filing period through June 2 from Feb. 2 and the solicitation period through Aug. 1 from April 3.

As previously reported, the debtors received court approval to enter into a plan support agreement and debtor-in-possession financing.

The debtors said that in light of their significant progress to date, the ongoing communication with and support of their key case constituents, and the lack of any other viable restructuring strategy, the debtors believe that maintaining exclusivity to file and solicit a plan is reasonable and appropriate.

In the weeks ahead, the companies plan to secure incremental financing needed to fund the cases through the extended exclusive periods and file a motion seeking approval of that financing.

Willows, Calif.-based CalPlant manufactures sustainably sourced building products. The company filed Chapter 11 bankruptcy on Oct. 5 under case number 21-11302.

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