MSD Performance par lenders withdraw exclusivity termination motion

By Caroline Salls

Pittsburgh, Nov. 5 - MSD Performance, Inc.'s original par lenders withdrew their motion for termination of the company's exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, a group of original par lenders opposed the sale of the company's assets and supported a restructuring instead.

The original par lenders proposed a restructuring plan to the debtors but were rejected.

The lenders then sought to terminate the debtors' exclusive periods, seeking to submit their plan directly to the court.

The original par lenders include CIFC Funding 2006-I, Ltd., Golub Capital CP Funding LLC, Golub Capital Partners 2007-2 Ltd., Golub Capital Partners V, LP, Golub Capital Partners VI, LP, Golub International Loan Ltd. I, Madison Capital Funding LLC and OFSI Fund III, Ltd.

MSD Performance, an El Paso-based maker of performance auto products, filed for bankruptcy on Sept. 6. The Chapter 11 case number is 13-12286.

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