ECOtality granted 45-day exclusivity extension for plan evaluation

By Kali Hays

New York, June 27 – ECOtality North America received a fifth extension of its exclusive plan of reorganization filing and solicitation periods, according to a Thursday order with the U.S. Bankruptcy Court for the District of Arizona.

The exclusive filing period is extended through Aug. 13 from June 29 and the solicitation period through Oct. 12 from July 14.

As previously reported, the company had intended to file its plan of liquidation the week of May 18, but 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.

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