1250 Oceanside Partners wins exclusivity extension to address issues

By Caroline Salls

Pittsburgh, June 28 - 1250 Oceanside Partners obtained an extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Friday filing with the U.S. Bankruptcy Court for the District of Hawaii.

The company's exclusive filing period was extended through Nov. 4 from July 5 and the solicitation period through Jan. 2, 2014 from Sept. 3.

According to the motion, the extension will give 1250 Oceanside more time to conclude plan talks and "address the variety of issues necessary for a successful reorganization."

The company said it recently expanded its management team to address the issues before it. Specifically, G. Rick Robinson was hired as chief restructuring officer, and Carlsmith Law Firm was retained as special counsel for real estate and development matters.

1250 Oceanside is the Roseville, Calif.-based developer of the Hokuli'a project. The company filed for bankruptcy on March 6 under Chapter 11 case number 13-00353.

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