Global Cloud Xchange seeks precautionary 91-day exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 10 – Global Cloud Xchange requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, Global Cloud Xchange is asking the court to extend its exclusive plan-filing period by 91 days through April 13 and the solicitation period through June 11.

As previously reported, the company’s plan of reorganization was confirmed in early December.

“The debtors, along with their advisers and key stakeholders, are currently working diligently toward consummation of the reorganization transactions set forth in the plan,” the extension motion said.

“Although the debtors fully expect the plan to become effective, they submit this motion out of an abundance of caution so that the debtors’ exclusive right to file a plan and solicit votes on a plan is preserved pending the occurrence of the effective date.”

A hearing is scheduled for Feb. 6.

Global Cloud Xchange offers a comprehensive portfolio of solutions customized for carriers, enterprises and new media companies. It is based in London. The company filed bankruptcy on Sept. 15 under Chapter 11 case number 19-12031.

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