Life Settlements Absolute Return I seeks 90-day exclusivity extension

By Caroline Salls

Pittsburgh, Oct. 29 – Life Settlements Absolute Return I, LLC requested a third extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, Life Settlements is asking the court to extend the exclusive periods by 90 days through Jan. 28 from Oct. 29 and the solicitation period through March 27 from Dec. 27.

According to the motion, Life Settlements “cannot finalize an appropriate plan of reorganization” until issues related to a Government of the Virgin Islands lien are resolved.

A hearing is scheduled for Dec. 12.

Life Settlements is a Greenville, S.C.-based insurance company. The company filed bankruptcy on Dec. 29, 2017 under Chapter 11 case number 17-13030.

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