CarbonLite seeks exclusivity extension to focus on sale of facility

By Sarah Lizee

Olympia, Wash., June 15 – CarbonLite Holdings LLC 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 District of Delaware.

Specifically, the company asked the court to extend the plan filing period through Oct. 4 and the solicitation period through Dec. 3.

The company said that despite the progress it has made, it is not in a position to propose a plan at this time.

“The debtors are in the midst of an involved marketing and sale process for the Pinnpack facility, requiring the attention and focus of their employees and professionals,” the company said in its motion.

A hearing is scheduled for July 15.

CarbonLite is a Riverside, Calif.-based producer of food-grade post-consumer recycled polyethylene terephthalate. The company filed bankruptcy on March 8 under Chapter 11 case number 21-10528.

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