Former Packable seeks another extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., July 21 – Pack Liquidating, LLC, formerly Packable Holdings, LLC, is seeking another extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company asked the court to extend the exclusive plan filing period through Nov. 20 from July 21 and the exclusive solicitation period through Jan. 22, 2024 from Sept. 22.

The company said that even though the debtors have completed the liquidation of the bulk of their tangible assets, they are in the process of monetizing other intangible assets – including estate claims and causes of action, some of which are now being pursued by the official committee of unsecured creditors – and have begun reconciling claims.

The results of that process, and recoveries from estate causes of action, will inform the debtors’ ability to submit a plan of liquidation that has the support of their secured lenders and the committee and enable them to bring these Chapter 11 cases to a close, the company said.

A hearing is scheduled for Aug. 21.

Packable is a Hauppauge, N.Y.-based e-commerce company that operates as a third-party seller of health, beauty and other consumer products on online marketplaces. The company filed bankruptcy on Aug. 28, 2022 under Chapter 11 case number 22-10797.

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