Former Loot Crate eyes 90-day exclusivity extension to reach agreement

By Caroline Salls

Pittsburgh, Sept. 9 – Old LC, Inc., formerly Loot Crate, Inc., is seeking an 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.

Specifically, the company is asking the court to extend its exclusive plan-filing period by 90 days through Dec. 8 and the solicitation period through Feb. 8.

Old LC said it has worked cooperatively with the official committee of unsecured creditors appointed for its cases and its pre-bankruptcy secured lender and will continue to do so.

“This request remains consistent with Congress’ intent in establishing a debtor’s right to maintain exclusivity ‘in order to allow the debtor to reach an agreement,’” the motion said.

Los Angeles-based Loot Crate sells pop culture subscription boxes. The company filed bankruptcy on Aug. 11, 2019 under Chapter 11 case number 19-11791.

© 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.