Outer Harbor Terminal obtains exclusivity extension to focus on plan

By Caroline Salls

Pittsburgh, June 16 – Outer Harbor Terminal, LLC received more time to file its plan of liquidation, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive period for filing a Chapter 11 plan was extended through Sept. 28 and its exclusive period for soliciting votes on the plan through Nov. 28.

Now that its wind down has reached its final stages, Outer Harbor said it is primarily focused on developing and proposing a liquidation plan for the benefit of its creditors.

However, in order to formulate a plan and estimate potential distributions to creditors, the company said it will first need to spend some time analyzing and resolving the claims against the estate that will impact the distributions under a plan or could otherwise potentially affect the plan’s feasibility.

Based in Oakland, Calif., Outer Harbor is a provider of container terminal operation and stevedore services at the Port of Oakland. The company filed for bankruptcy on Feb. 1 under Chapter 11 case number 16-10283.

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