OneWeb Global asks court to extend exclusive plan periods by 90 days

By Sarah Lizee

Olympia, Wash., Oct. 14 – OneWeb Global Ltd. is seeking a 90-day extension of its exclusive periods to file a Chapter 11 plan and solicit votes, according to a motion filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York.

Specifrically, the debtor is asking the court to extend the exclusive plan filing period through Jan. 21 and the exclusive solicitation period through March 22.

OneWeb said that with the court’s entry into the confirmation order on Oct. 2, it is in the final stage of its reorganization cases.

The debtors said they are seeking the extension to ensure that the effective date occurs without interference from a competing plan.

OneWeb said it believes that maintaining its exclusive right to file and solicit votes on a plan is critical to its ability to complete the value-maximizing restructuring embodied in the plan.

A hearing is scheduled for Oct. 27.

Arlington, Va.-based OneWeb develops a constellation of satellites to enable internet access. The company filed bankruptcy on March 27, 2020 under Chapter 11 case number 20-22437.

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