Trigeant exclusivity extension OK’d; plan hearing to be rescheduled

By Caroline Salls

Pittsburgh, Feb. 17 – Trigeant Holdings, Ltd. obtained a 60-day extension of its Chapter 11 plan solicitation period, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Florida.

Specifically, the exclusive solicitation period was extended through April 22 from Feb. 21.

In addition, the court said Trigeant’s plan confirmation hearing will not be held on Feb. 19 as originally scheduled. A scheduling order will be entered, the filing said.

Though the company still maintains that no classes of creditors are impaired under its proposed reorganization plan, Trigeant said it requested the extension “to avoid any potential confusion on this issue” and to allow solicitation of the votes of a class of equity interests “in an abundance of caution.”

Trigeant said in the motion that had creditor BTB Refining, LLC not “hotly contested” the company’s plan, terminated its exclusive periods and filed and withdrawn its own version of the plan, “the confirmation hearing in these cases would have already occurred.”

Trigeant, a Boca Raton, Fla.-based petroleum company, filed for bankruptcy on Aug. 25. The Chapter 11 case number is 14-29027.

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