GigaMonster Networks receives extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., May 16 – GigaMonster Networks, LLC secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the exclusive plan filing period through Sept. 13 and the exclusive solicitation period through Nov. 13.

As previously reported, the company said it requested the extension so the debtors could focus on working with the official committee of unsecured creditors and prepetition agent Barings Asset-Based Income Fund (US) LP to negotiate and develop a consensual Chapter 11 plan.

“Continued exclusivity will permit the debtors to maintain flexibility so that a competing plan by another third party does not derail the parties’ efforts towards a plan process,” the company said in its motion.

“All stakeholders will benefit from such continued stability and predictability.”

The Marietta, Ga.-based internet provider filed bankruptcy on Jan. 16 under Chapter 11 case number 23-10051.

© 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.