Spring Mountain Vineyard asks for lengthy exclusivity extension

By Sarah Lizee

Olympia, Wash., Jan. 30 – Spring Mountain Vineyard Inc. is seeking a 180-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Northern District of California.

The extension would push back the exclusive plan filing period through July 26 and the exclusive solicitation period through Sept. 24, 2023.

The company is engaged in a process to market and sell its assets, and the projected closing date is April 15.

As such, the exclusivity extension is reasonable, the debtor said.

This is the first time the company has asked for an extension of the exclusive periods.

The company said a final order on the extension will be subject to the terms of the final debtor-in-possession financing order, under which lender MGG California, LLC will be permitted to file a plan upon the occurrence of an event of default or the April 15 maturity date.

A hearing on the exclusivity extension is scheduled for March 1.

The Saint Helena, Calif.-based winery filed bankruptcy on Sept. 29 under Chapter 11 case number 22-10381.

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