Edgenet gets 60-day extension of exclusive periods for pending lawsuit

By Kali Hays

New York, July 10 – Edgenet, Inc. received approval for a second extension of its exclusive plan of reorganization filing and solicitation periods, according to a Wednesday motion with the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive filing period is extended through Sept. 14 from July 13 and its solicitation period through Nov. 10 from Sept. 11.

An adversary proceeding against Ernest Han-Ping Wu initiated by Edgenet for the avoidance of a preferential transfer and of a security interest is still pending before the court and the company intends to use the extra time to complete the discovery process and “address other pressing issues,” according to the motion.

Edgenet, an Atlanta-based provider of cloud-based content, applications and services, filed for bankruptcy on Jan. 14. The Chapter 11 case number is 14-10066.

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