BSPV-Plano eyes exclusive plan filing, solicitation period extension

By Sarah Lizee

Olympia, Wash., May 26 – BSPV-Plano, LLC is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Texas.

Specifically, the company asked the court to extend the plan filing period through Sept. 27 and the solicitation period through Nov. 26.

The company said it is currently focused on completing construction of its senior luxury apartment community, known as the Bridgemoor at Plano. The company said that due to unanticipated difficulties and delays in construction, the debtor and its agents have expended substantial time and resources on the project.

The company said it doesn’t believe it is realistic to formulate a proposed Chapter 11 plan until the project is completed.

The Plano, Tex.-based company was formed in May 2018 to acquire, own, develop and operate an independent senior luxury apartment community known as the Bridgemoor at Plano. It filed Chapter 11 bankruptcy on March 1 under case number 22-40276.

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