Erickson Retirement looks to extend DIP financing maturity to April 30

By Caroline Salls

Pittsburgh, April 16 - Erickson Retirement Communities, LLC requested court approval to extend its debtor-in-possession financing maturity date to April 30 from April 17, according to a Thursday filing with the U.S. Bankruptcy Court for the Northern District of Texas.

The company will pay a $25,000 extension fee.

According to the motion, the confirmation of Erickson's plan of reorganization was delayed by disputes that have now been resolved.

Although the plan is expected to be confirmed before the maturity date, the company said the extension is necessary to provide it with financing to continue operations through the plan effective date.

Baltimore-based Erickson Retirement develops full-service retirement communities. The company filed for bankruptcy on Oct. 19, 2009. Its Chapter 11 case number is 09-37010.

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