1 Global again requests extension of exclusive plan-filing period

By Sarah Lizee

Olympia, Wash., May 24 – 1 Global Capital LLC is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.

1 Global is asking the court to extend its exclusive filing period through June 24 from May 24 and the solicitation period through Aug. 26 from July 26.

According to the motion, the company, the official committee of unsecured creditors appointed for its case and the Securities and Exchange Commission are assessing various plan scenarios “and are working in a transparent and collaborative manner to maximize value and achieve the best results for all the debtors’ stakeholders.”

While it expects to file a plan of liquidation soon, 1 Global said it believes that a further limited exclusivity extension is needed to allow it to resolve concerns of the committee and SEC.

This marks the company’s fourth exclusivity extension request.

1 Global is a Hallandale Beach, Fla., business lender. The company filed for bankruptcy on July 27, 2018 under Chapter 11 case number 18-19121.

© 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.