Dean Foods requests fifth extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Dec. 22 – Dean Foods Co. is seeking a fifth extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, the company asked the court to extend the plan filing period through Feb. 4 from Dec. 21 and the solicitation period through April 5 from Feb. 19.

Upon written consent from the committee, the plan filing period would automatically be extended through March 22 and the solicitation period through May 21.

Over the past several months, the debtors and the committee have worked together constructively to formulate a confirmable Chapter 11 plan that will maximize distributable value to the debtors’ creditors, the motion said.

As a result of these efforts, on Nov. 30, the debtors filed a joint Chapter 11 plan of liquidation and disclosure statement.

“Nevertheless, the debtors seek an extension of the exclusive periods to allow sufficient time for the solicitation of acceptance of the plan as well as for its confirmation,” the company said.

Dean Foods is a Dallas-based food and beverage company. The company filed bankruptcy on Nov. 12, 2019 under Chapter 11 case number 19-36313.

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