Paradox Resources asks court for 60-day exclusivity extension

By Sarah Lizee

Olympia, Wash., Sept. 11 – Paradox Resources, LLC is seeking a 60-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company asked the court to extend the exclusive plan filing period through Nov. 18 and the exclusive solicitation period through Jan. 17.

Paradox said its case has involved complex negotiations with creditors to obtain debtor-in-possession financing and to implement a sale process.

“Under the circumstances, more time is necessary to ensure implementation of reasonable and effective plan terms and prepare adequate information for a disclosure statement because the terms and structure of such the plan and disclosure statement depend in large part on the outcome of the sale process,” the company said in the motion.

“With the sale process nearing completion, the debtors submit that they continue to make good faith progress towards reorganization and an additional extension is warranted.”

Paradox Resources is a Houston-based midstream company primarily focused on helium processing and carbon capture, utilization and sequestration. The company filed bankruptcy on May 22 under Chapter 11 case number 23-90558.

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