MatlinPatterson fund seeks extension of exclusive solicitation period

By Sarah Lizee

Olympia, Wash., Dec. 30 – MatlinPatterson Global Opportunities Partners II LP is seeking a 180-day extension of its exclusive periods to solicit votes on a Chapter 11 plan through July 5 from Jan. 3, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

The debtor filed a Chapter 11 plan of liquidation on the petition date, as previously reported.

A hearing on approval of the disclosure statement has not been scheduled yet because the court ruled that the statement and solicitation documents could not be considered until after motions for conversion are fully heard and decided.

The debtor’s foreign representative, Vanio Cesar Pickler Aguiar, asked the court to convert the case in October.

The company said it hasn’t been authorized to commence solicitation of the plan, so it is requesting the extension to ensure there is enough time to do so after the court considers the conversion motions.

The New York-based distressed debt and credit opportunities fund filed bankruptcy on July 6, 2021 under Chapter 11 case number 21-11255.

© 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.