Sea Launch eyes exclusivity extension to formulate plan, solicit votes

By Lisa Kerner

Charlotte, N.C., June 15 - Sea Launch Co., LLC is seeking a 90-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period to Sept. 16 from June 18 and the solicitation period to Nov. 14 from Aug. 16.

A hearing is scheduled for July 12.

According to the motion, Sea Launch is in continuing negotiations with its partners, suppliers and creditors committee to work toward formulating a plan of reorganization. The company is also in the process of resolving disclosure statement objections.

The court previously extended the filing period three times, most recently to June 18 from April 19 and the solicitation period to Aug. 16 from June 17.

Sea Launch, a Long Beach, Calif., heavy-lift satellite commercial launch service provider, filed for bankruptcy on June 22, 2009. Its Chapter 11 case number is 09-12153.

© 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.