Ultrapetrol extends plan vote, sale transaction consent solicitations

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Ultrapetrol (Bahamas) Ltd. extended the deadline in its solicitation of consents from some of its creditors for a pre-packaged plan of reorganization, according to a press release.

The company said it is also extending the deadline for its shareholders to consent to a sale transaction to take place in connection with the plan of reorganization.

Ultrapetrol is soliciting plan votes from the holders of 2021 note claims, IFC-OFID loan claims, offshore lender parent claims and general unsecured claims.

Votes on the plan and consents to the sale transaction are now due by 4 p.m. ET on Jan. 26, pushed back from 4 p.m. ET on Jan. 4.

All other terms of the consent solicitations remain the same, and holders who have already validly delivered consents need not deliver new consents.

Ultrapetrol is a Nassau, Bahamas-based shipping company.

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