Holiday Inn Manhattan seeks extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., March 27 – Golden Seahorse LLC, which does business as Holiday Inn Manhattan Financial District, 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 with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company asked the court to extend the exclusive plan filing period through June 27 and the exclusive solicitation period through Aug. 26.

“Although the debtor’s Chapter 11 case is not large in size compared to many ‘mega’ cases filed in this district, it is complex, involving several key constituents to wit, the prepetition lenders, with a principal amount outstanding of over $137 million, and Holiday Hospitality Group, the franchisor, among others,” the company said in its motion.

“Given the complexity of this Chapter 11 case, which is exacerbated by the continued uncertainty of numerous macroeconomic issues (including the recent banking crisis and potential recession) and inflation, there is sufficient cause for the court to extend the exclusive periods.”

The New York-based hotel operator filed Chapter 11 bankruptcy on Nov. 28 under case number 22-11582.

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