Open Road Films seeks third exclusivity extension to finalize plan

By Caroline Salls

Pittsburgh, July 5 – Open Road Films, LLC is seeking a third extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Open Road is asking the court to extend its exclusive filing period by three months through Oct. 10 from July 10 and the solicitation period through Dec. 6 from Sept. 6.

The company said it has focused time and attention in recent months on negotiating a global settlement, which was approved by the court on June 11, as well as other settlements.

Following approval of these settlements, Open Road said it has been working swiftly to finalize a joint Chapter 11 plan and the accompanying disclosure statement and related solicitation materials, and the plan is expected to be filed soon.

“Given the foregoing considerable progress in a short period of time, the debtors submit that the complexity and relatively short duration of these cases warrant the extension of the exclusive periods, so that the debtors can focus on finalizing and then prosecuting their Chapter 11 plan, without the distraction of competing plans,” the motion said.

A hearing is scheduled for July 30.

Open Road is a Los Angeles-based film operation. The company filed bankruptcy on Sept. 6, 2018 under Chapter 11 case number 18-12012.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.