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

By Caroline Salls

Pittsburgh, June 18 – Aceto Corp. obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of New Jersey.

The company’s exclusive plan-filing period was extended through Aug. 19 from June 19 and the solicitation period through Oct. 17 from Aug. 18.

Aceto filed a plan of liquidation and related disclosure statement on Monday.

The company said it 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 or to safeguard the debtors’ exclusivity rights against any unexpected contingencies after the plan is filed.

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.

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