ECOtality plan-filing deadline delayed; next extension hearing Oct. 21

By Kali Hays

New York, Oct. 1 – ECOtality North America obtained a sixth extension of its exclusive Chapter 11 plan-filing period, according to a Wednesday order from the U.S. Bankruptcy Court for the District of Arizona.

The filing period is extended through Oct. 23 from Oct. 12.

ECOtality requested an extension through Dec. 26 but agreed on a stipulation with its official committee of unsecured creditors and its U.S. trustee to extend the period by 10 days to avoid an expiration of the filing deadline before a hearing could take place on the matter.

A hearing on a further extension is scheduled for Oct. 21.

As previously reported, the company already filed a joint plan of liquidation but has since reached a settlement with objecting creditor Blink UYA, LLC and intends to negotiate with Blink and its unsecured creditor committee on a consensual plan of reorganization.

Prior to the settlement, Blink asked the court to terminate ECOtality’s exclusive solicitation period so it could file a “more beneficial” reorganization plan for the company.

ECOtality is “optimistic that this plan of reorganization will maximize the benefit to the debtors, their estates and creditors, but this path forward will require additional time for the parties to negotiate and finalize the proposed plan.”

ECOtality, a renewable energy company based in San Francisco, filed for bankruptcy on Sept. 16, 2013. The Chapter 11 case number is 13-16126.

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