Diocese of Buffalo receives third extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Dec. 22 – The Diocese of Buffalo secured a third extension of its exclusive periods to file and solicit votes for a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the Western District of New York.

Specifically, the court extended the plan filing period through Feb. 22, 2021 from Dec. 24 and the solicitation period through June 22, 2021 from April 23.

“This Chapter 11 case is still in the early stages, with many outstanding issues to be resolved prior to proposing a confirmable plan of reorganization,” the diocese said in its motion.

The diocese is working on resolving open issues with its insurance carriers and Child Victim Act claimants.

The diocese added that the availability of insurance proceeds will be a crucial threshold issue to be resolved as the parties work to ensure the greatest possible compensation for Child Victim Act claimants through an efficient claims administration process.

The diocese filed Chapter 11 bankruptcy on Feb. 28 under case number 20-10322.

© 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.