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Orianna confirmation hearing adjourned; new date not yet scheduled
By Caroline Salls
Pittsburgh, July 10 – 4 West Holdings, Inc.’s (Orianna) Chapter 11 plan confirmation hearing has been adjourned to a date to be determined from July 16, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the Northern District of Texas.
As previously reported, Orianna filed its plan of reorganization on March 7. The plan was amended on May 25, June 12 and June 22.
The notice did not give a reason for the adjournment. However, last week the official committee of unsecured creditors for Orianna’s case asked the court to adjourn the hearing.
The committee said the case parties participated in mediation on June 26, and, at a June 27 hearing, Orianna’s counsel said the parties were within “striking distance” of a settlement.
The plan sponsor provided the committee with a settlement offer on June 27, the motion said, that would resolve all of the open issues and pave the way for a consensual plan.
Although the committee said it accepted the settlement offer before Omega’s termination deadline, the creditor group said Omega disputes its contention that the parties have settled.
“Upon information and belief, Omega is unwilling to honor the settlement offer accepted by the committee for reasons unrelated to the deal struck because of underlying issues associated with the plan generally, which may include concerns over the accuracy (and collectability) of certain accounts receivable, as well as the extent of certain expenses,” the motion said.
Dallas-based 4 West holds the Orianna Health Systems trademark. It filed for Chapter 11 on March 6 under case number 18-30777.
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