MV Realty secures extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Jan. 18 – MV Realty PBC, LLC received an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Florida.

Specifically, the court extended the exclusive plan filing period through May 20 from Jan. 20 and the exclusive solicitation period through July 18 from March 20.

The company said the debtors are in the process of formulating and drafting one or more plans of reorganization, but additional time is needed.

Some of the debtors are party to litigation and regulatory matters, including in the bankruptcy court. In one of the adversary proceedings, a multiday evidentiary hearing is set to take place in mid-February.

“In light of the pending litigation, it has been challenging to formulate a plan and, therefore, additional time is needed,” the company said in the motion.

The Boca Raton, Fla.-based real estate company filed bankruptcy on Sept. 22 under Chapter 11 case number 23-17590.

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