Marbury Plaza receives extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., April 11 – MP PPH LLC secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Columbia.

The court extended the exclusive plan filing period through June 26 and the exclusive solicitation period through Aug. 26.

“This is a complex Chapter 11 case involving an operating apartment building with thousands of tenants,” the company said in the exclusivity motion.

“The cornerstone of the debtor’s reorganization plan is contingent upon the successful sale of the property.”

The company said it is nearing a deal, following a letter of intent from a prospective buyer, who has required further due diligence.

The Melville, N.Y.-based single asset real estate company filed Chapter 11 bankruptcy on Aug. 31, 2023 under case number 23-00246.

© 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.