BSPV-Plano’s exclusive plan filing period extended through Oct. 31

By Sarah Lizee

Olympia, Wash., Aug. 24 – BSPV-Plano, LLC’s second motion to extend the exclusive periods to file a Chapter 11 plan and solicit acceptances was approved by the U.S. Bankruptcy Court for the Eastern District of Texas, according to an order.

The court extended the plan filing period through Oct. 31 and the solicitation period through Dec. 31.

As part of negotiations with bond trustee Huntington National Bank, BSPV has agreed with the trustee to amend its prepetition claim to include an additional $856,258.25 of unpaid prepetition interest not currently in the bond trustee’s claim.

Huntington had agreed to not submit a competing plan until Sept. 9 had the extension not been approved by the court.

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.

© 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.