Speedcast asks court for 81-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 21 – Speedcast International Ltd. is seeking an 81-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas.

The debtors asked the court to extend the exclusive plan filing period through Jan. 11 from Oct. 20 and the exclusive solicitation period through Feb. 19 from Nov. 30.

“Although the debtors believe they are on a path that will lead to confirmation of a plan, and have proposed a solicitation timeline within their current exclusive periods, the debtors cannot afford to lose exclusivity in the event that solicitation and confirmation of the proposed plan is delayed, as a result of anticipated litigation or otherwise, or if such plan is not ultimately confirmed,” the motion said.

Speedcast is an Australia-based provider of remote communication and IT solutions. The company filed bankruptcy on April 23 under Chapter 11 case number 20-32243.

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