Affirmative Insurance seeks 60-day exclusivity extension period

By Sheri Kasprzak

New York, Feb. 12 – Affirmative Insurance Holdings, Inc. requested court authorization to extend its exclusive periods to file a Chapter 11 plan of reorganization and soliciting votes on the plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company is requesting an extension of its exclusive filing period through and including April 11 and an extension of its solicitation period through and including June 10.

Affirmative has reportedly made some strides in its Chapter 11 case in a short amount of time, the filing said.

“As stated in more detail at the hearing in the Chapter 11 cases on Jan. 29, 2016, the debtors have made substantial progress in these Chapter 11 cases in a relatively short period of time, including agreeing to settlements with several creditors and adversaries,” said the filing.

“The debtors therefore seek their first extension of exclusivity to allow ongoing negotiation of a confirmable plan and to garner maximum consensus around that plan.”

A hearing is scheduled for April 25.

Based in Addison, Texas, Affirmative Insurance designs, underwrites and services non-standard personal automobile insurance policies. The Chapter 11 case number is 15-12136.

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