ECOtality seeks 45-day exclusivity extension to evaluate plan proposal

By Kali Hays

New York, June 6 – ECOtality North America asked for a fifth extension of its exclusive plan of reorganization filing and solicitation periods, according to a Thursday motion with the U.S. Bankruptcy Court for the District of Arizona.

The company asked that its exclusive filing period be extended through Aug. 13 from June 29 and its solicitation period through Oct. 12 from July 14.

Though the company had intended to file its plan of liquidation the week of May 18, Blink Acquisition LLC, a purchaser of some company assets, “re-engaged the debtor and the creditors committee in discussions regarding Blink’s proposal for a plan of reorganization,” according to the motion.

The company and the committee have asked Blink to provide some additional information in order to evaluate the proposal and said that “if the information is not provided in a timely fashion or the debtors determine that Blink’s proposal is not the most appropriate” it will file and solicit the already drafted liquidation plan at the end of the extended periods.

ECOtality, a renewable energy company based in San Francisco, filed bankruptcy on Sept. 16, 2013 in the U.S. Bankruptcy Court for the District of Arizona. The Chapter 11 case number is 13-16126.

© 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.