Teligent eyes extension of exclusive plan filing, solicitation periods

By Sarah Lizee

Olympia, Wash., Feb. 10 – Teligent, Inc. is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the plan filing period through May 12 from Feb. 11 and the solicitation period through July 11 from April 12.

The company said the extension would allow the debtors the time they need to formulate and negotiate a plan now that the debtors have transitioned into Chapter 11 and their sale process has ended.

“Accomplishing these tasks has been a labor-intensive process, fully occupying the debtors’ representatives and professionals for the approximately four months that the Chapter 11 cases have been pending,” the company said in its motion.

Teligent is a Buena, N.J.-based specialty generic pharmaceutical company. The company filed bankruptcy on Oct. 14 under Chapter 11 case number 21-11332.

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