Red River Waste creditors committee opposes exclusivity extension

By Sarah Lizee

Olympia, Wash., Feb. 7 – Red River Waste Solutions, LP’s motion seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan drew an objection on Monday from the official committee of unsecured creditors, according to court documents filed with the U.S. Bankruptcy Court for the Northern District of Texas.

As previously reported, the company asked the court to extend the plan filing period through June 13 from Feb. 11 and the solicitation period through Aug. 10 from April 12.

The committee said that while it believes a four-month extension is too long, it would support a shorter 30-day extension if the committee was granted co-exclusive rights regarding filing and soliciting votes on a plan.

To accommodate the co-exclusive process, the company should deliver a term sheet for a proposed plan to the committee on or before Feb. 25 and file a plan on or before March 11, the committee added.

“The time has come for the debtor and the committee to work together to propose a Chapter 11 plan and move this case through a sale process and on to completion through a Chapter 11 plan,” the group said.

“Placing such conditions on the exclusivity extension will help ensure that the debtor will act with the urgency that this case desperately needs.”

A hearing is scheduled for Feb. 9.

The Dripping Springs, Tex.-based waste management company filed bankruptcy on Oct. 14 under Chapter 11 case number 21-42423.

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