Security National Properties looks to extend exclusive plan periods

By Caroline Salls

Pittsburgh, May 11 - Security National Properties Funding III, LLC is seeking an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive periods to the later of Aug. 7 and the conclusion of the confirmation hearing for the plan filed by the company on April 24.

The exclusive periods are currently set to expire on May 10 and July 9, respectively. The plan confirmation hearing is scheduled for Aug. 7.

Security National said counsel for pre-bankruptcy loan agent Bank of America NA does not contest the proposed extension because the plan was filed during the existing exclusive period.

In addition, the company said Bank of America has not objected to Security National's request that the parties meet with a mediator.

A hearing on the exclusivity extension motion is scheduled for June 20.

Security National Properties Funding III is a Baton Rouge, La., affiliate of real estate investment company Security National Master Holding Co. It filed for bankruptcy on Oct. 13, 2011 under Chapter 11 case number 11-13277.

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