Zohar III seeks to extend exclusive plan-filing period to Sept. 11

By Caroline Salls

Pittsburgh, Aug. 20 – Zohar III, Corp. requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Zohar asked the court to extend its exclusive plan-filing period through Sept. 11 from Aug. 21 and the solicitation period through Nov. 11 from Oct. 21.

In the months following entry of the second extension order, Zohar said it has continued to work with senior secured creditors, the Patriarch stakeholders and other parties in interest to complete the monetization process and further the objectives embodied in the parties’ settlement agreement.

“The debtors believe that further extending the exclusive periods for approximately one additional month is consistent with the settlement agreement, and necessary and appropriate to ensure that the debtors and their stakeholders can continue to work productively toward achieving its objectives,” the motion said.

A hearing is scheduled for Sept. 11.

Zohar is a Grand Cayman, Cayman Islands-based collateralized debt obligation. The company filed bankruptcy on March 11, 2018 under Chapter 11 case number 18-10512.

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