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Life Settlements Absolute Return I wins 90-day exclusivity extension
By Caroline Salls
Pittsburgh, Nov. 15 – Life Settlements Absolute Return I, LLC received a third extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
Specifically, Life Settlements’ exclusive plan-filing period was extended 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.
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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