Garrett Motion requests 90-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., March 3 – Garrett Motion Inc. is seeking a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company asked the court to extend the plan filing period through April 18 and the solicitation period through June 17.

The company said that while it filed its initial plan on Jan. 8, within the current exclusive filing period, the debtors do not anticipate completing solicitation until after March 19, the expiration of the current exclusive solicitation period.

“The debtors have made substantial progress in these cases and are on a path towards a successful reorganization and emergence from Chapter 11,” the company said in its motion.

“Allowing the exclusive solicitation period to expire during the debtors’ anticipated solicitation of votes to accept or reject their plan and before the debtors have an opportunity to bring confirmation of their plan before the court would jeopardize the significant progress accomplished thus far in these Chapter 11 cases.”

A hearing is scheduled for March 16.

Rolle, Switzerland-based Garrett Motion is a provider of passenger vehicle, commercial vehicle, aftermarket replacement and performance enhancement solutions. The company filed for Chapter 11 bankruptcy on Sept. 20, 2020 under case number 20-12212.

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