Panda Temple requests exclusivity extension to avoid competing plans

By Caroline Salls

Pittsburgh, July 14 – Panda Temple Power, LLC requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, Panda Temple wants to extend its exclusive filing period by 90 days to Nov. 13 from Aug. 15 and the solicitation period to Jan. 15 from Oct. 16.

As previously reported, the company filed a plan on June 29, and the related disclosure statement has been approved, but the plan has not yet been confirmed.

“The debtors file this motion in order to provide sufficient time to obtain confirmation and, ultimately, consummation of the plan without distraction from competing plans of reorganization that may be filed by third parties,” the motion said.

A hearing is scheduled for Aug. 8.

Panda is a Temple, Texas-based power company. The company filed bankruptcy on April 17 under Chapter 11 case number 17-10839.

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