Former Halt Medical seeks exclusivity extension; plan near completion

By Caroline Salls

Pittsburgh, April 10 – HMI Liquidating Inc., formerly Halt Medical, Inc., requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, HMI Liquidating is asking the court to extend its exclusive plan-filing period by 60 days through June 8 from April 9 and the solicitation period through Aug. 7 from June 8.

The company said it is near completion of a Chapter 11 plan to wind down its case.

“Despite the debtor’s prior efforts, additional time is required in order for key parties to act upon the proposed Chapter 11 plan and to effect the filing of such plan,” the motion said.

“The extensions requested herein will foster an efficient plan process, allowing the debtor to complete its plan and negotiate with key stakeholders without upsetting the balance intended by the plan exclusivity accorded to a debtor under the Bankruptcy Code.”

A hearing is scheduled for April 30.

Brentwood, Calif.-based medical device company Halt Medical focuses on providing care for women with symptomatic uterine fibroids, including through its patented Acessa System. The company filed bankruptcy on April 12, 2017 under Chapter 11 case number 17-10810.

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