Telogy requests five-month plan-filing exclusivity extension

By Caroline Salls

Pittsburgh, March 29 - Telogy, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Northern District of California.

The company wants to extend both exclusive periods to Aug. 28. The plan-filing period currently ends on March 29 and the solicitation period on May 29.

Telogy said it wants the extension so it can finalize its efforts to maximize the going concern value of its assets, pursue confirmation of its plan and make meaningful distributions to creditors.

A hearing on approval of the company's disclosure statement is scheduled for Thursday and Telogy said it expects a confirmation hearing to be held in May.

Telogy, a Union City, Calif.-based electronics testing company, filed for bankruptcy on Nov. 29. Its Chapter 11 case number is 05-49371.

© 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.