Former Cynergy Data asks court for additional time to formulate plan

By Lisa Kerner

Charlotte, N.C., March 2 - CD Liquidation Co., LLC, formerly Cynergy Data, LLC, requested a second extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to June 1 from March 1 and the solicitation period to July 29 from April 30.

A hearing has been scheduled for March 19.

The court previously extended the company's exclusive plan filing period to March 1 from Dec. 31 and the solicitation period to April 30 from March 1.

CD Liquidation said more time is needed to formulate to formulate a plan and also cited the size and complexity of its cases in making its request.

Cynergy Data, a New York-based credit card processing service, filed for bankruptcy on Sept. 1, 2009. Its Chapter 11 case number is 09-13038.

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