Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Global Eagle Entertainment Inc. > News item |
Global Eagle Entertainment gets exclusivity extension to finish sale
By Sarah Lizee
Olympia, Wash., Dec. 4 – Global Eagle Entertainment Inc. received an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday in the U.S. Bankruptcy Court for the District of Delaware.
The court extended the exclusive plan filing period through Feb. 17 from Nov. 19 and the exclusive solicitation period through April 19 from Jan. 19.
The company said in its motion that while it filed a plan on Nov. 13, it intends to use the additional time to close the sale of its assets and seek confirmation of the plan.
“Since the petition date, the debtors have focused on transitioning their operations into Chapter 11 while formulating and running a value-maximizing sale process,” the company said.
“Nevertheless, there is still more to be done, and the debtors need more time.”
Based in Los Angeles, Global Eagle is a provider of media, content, connectivity and data analytics to markets across air, sea and land. The company filed bankruptcy on July 22 under Chapter 11 case number 20-11835.
© 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.