Aceto eyes extension of exclusive plan-filing period through Aug. 19

By Sarah Lizee

Olympia, Wash., May 24 – Aceto Corp. is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of New Jersey.

The company is asking the court to extend its exclusive plan-filing period through Aug. 19 from June 19 and the solicitation period through Oct. 17 from Aug. 18.

Aceto said it expects to be in a position to file a plan of liquidation in the next several weeks, but filed the motion to provide flexibility in the event additional time is required for further discussions with the official committee of unsecured creditors or other parties in interest, for the debtors to finish preparing their proposed plan of liquidation and accompanying disclosure statement, or to safeguard the debtors’ exclusivity rights against any unexpected contingencies after the plan is filed.

A hearing is scheduled for June 18.

Aceto is a Port Washington, N.Y.-based developer, marketer, seller and distributor of human health products, pharmaceutical ingredients and performance chemicals. The company filed bankruptcy on Feb. 19 under Chapter 11 case number 19-13448.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.