Anaergia unit Rialto secures extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Sept. 15 – Anaergia Inc. subsidiary Rialto Bioenergy Facility, LLC received an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of California.

Specifically, the court extended the exclusive plan filing period through Dec. 21 from Sept. 22 and the exclusive solicitation period through Feb. 19 from Dec. 31.

The company said the contingencies of its case warrant the extension.

Rialto said a more comprehensive, less contentious conclusion of the case is more likely to be produced after the court rules on the valuation of the debtor, the cash collateral and debtor-in-possession financing motion, and the debtor has had time after those rulings to develop an appropriate exit strategy in the case.

Anaergia is a Burlington, Ont.-based company that was created to turn organic waste into renewable natural gas, fertilizer and water, using proprietary technologies. Subsidiary Rialto Bioenergy is based in Carlsbad, Calif., and filed Chapter 11 bankruptcy on May 25 under case number 23-01467.

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