O.W. Bunker Holding seeks extension of exclusive periods

By Mark Reccek

Bethlehem, Pa., Sept. 25 – O.W. Bunker Holding North America Inc. requested court authorization to extend its exclusive periods for filing a Chapter 11 plan of reorganization and soliciting votes on the plan, according to a Friday motion with the U.S. Bankruptcy Court for the District of Connecticut.

The company asked that its filing period be extended to Nov. 30 from Sept. 28 and its solicitation period be extended by 60 days to Dec. 31.

“By extending the exclusivity period, the chances of filing a largely consensual Chapter 11 plan are increased,” the motion said. “As a result, the development of a thoroughly contemplated plan, which will be mutually beneficial to the most parties possible can be proposed.”

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.

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