Ocala Funding secures exclusivity extension to finalize agreements

By Caroline Salls

Pittsburgh, Oct. 24 - Ocala Funding, LLC received a 60-day extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the Middle District of Florida.

The company's exclusive filing period was extended to Jan. 6 from Nov. 8 and the solicitation period to March 7 from Jan. 7.

Although it is close to being prepared to file a plan and a related disclosure statement, Ocala said it needs more time to further negotiations and finalize its agreement with some restructuring support agreement parties.

According to the motion, all of the parties to the restructuring support agreement support the exclusivity extension.

Ocala Funding, an Orlando, Fla.-based financing vehicle, filed for bankruptcy on July 10. Its Chapter 11 case number is 12-04524.

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