Stoneway Capital secures another extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Feb. 18 – Stoneway Capital Ltd. secured another 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 New York.

Specifically, the court extended the plan filing period through Feb. 28 from Jan. 31 and the solicitation period through April 29 from April 1.

The company had said in its motion that the debtors exchanged drafts of plan documents with creditors and anticipated filing a joint plan soon. The plan was filed on Feb. 10, and a hearing on approval of the disclosure statement is scheduled for March 17.

Stoneway is a privately held New Brunswick, Canada, company based in Buenos Aires and established in 2016 for the purpose of constructing, owning and operating power plants to provide electricity to the wholesale electricity market in Argentina through indirect subsidiaries. The company filed bankruptcy on April 7, 2021 under Chapter 11 case number 21-10646.

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