SAExploration voting designation deadline extended amid negotiations

By Sarah Lizee

Olympia, Wash., Oct. 13 – SAExploration Holdings, Inc., some consenting creditors and the ad hoc committee of non-consenting term loan noteholders have agreed to extend the deadline to file a motion to designate votes to Oct. 16 from Oct. 13, according to a notice filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

The consenting creditors include Assured Investment Management LLC, Whitebox Advisors, LLC and Highbridge Capital Management, LLC.

On Sept. 11, the court held a hearing on the debtors’ emergency motion for entry of an order conditionally approving the disclosure statement and approving for solicitation and tabulation of votes to accept or reject the plan.

The court set a filing deadline of Oct. 13 for the ad hoc committee to file a motion to designate the votes.

The debtors, consenting creditors and the ad hoc committee have been “engaged in good faith discussions” and have agreed to extend the deadline.

SAExploration is a Houston-based oilfield services company. The company filed bankruptcy on Aug. 27 under Chapter 11 case number 20-34306.

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