O.W. Bunker eyes two-month extension plan filing, solicitation periods

By Kali Hays

New York, July 27 – O.W. Bunker Holding North America Inc. is seeking an additional extension of its exclusive plan filing and solicitation periods, according to a Monday motion with the U.S. Bankruptcy Court for the District of Connecticut.

The company asked that its plan filing period be extended to Sept. 30 from July 31 and its solicitation period to Nov. 30 from Sept. 30.

O.W. Bunker said that the extension will allow it to continue negotiations with its two largest creditors, ING Bank NV and NuStar Energy Services Inc., which could result in a “largely consensual chapter 11 plan process,” according to the motion.

If allowed, this will be the fourth extension of the company’s exclusive periods.

O.W. Bunker is an independent distributor and reseller of marine fuel and is based in Denmark. Its U.S. subsidiaries filed for bankruptcy on Nov. 13 under Chapter 11 case number 14-51720.

© 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.