GTT Communications eyes further post-confirmation exclusivity

By Sarah Lizee

Olympia, Wash., Sept. 20 – GTT Communications, Inc. is seeking another post-confirmation extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company asked the court to extend the plan filing period by 90 days through Dec. 31 and the solicitation period by 90 days through March 1.

The plan was confirmed on Dec. 16, 2021 as previously reported.

The company said unexpected delays in obtaining approval for the California Public Utilities Commission (CPUC) application and pending approvals in foreign jurisdictions necessitated the latest exclusivity extension motion.

“Maintaining the status quo at this critical juncture is of utmost importance as the debtors and their stakeholders work towards consummating the plan, which maximizes the value of the debtors’ estates and was unanimously supported by the debtors’ impaired creditors that voted on the plan,” the company said.

“An expiration of the exclusive periods at this juncture could result in the debtors and their stakeholders needing to return to ‘square one’ in the Chapter 11 plan process and, potentially, derail the regulatory approval processes that currently are underway.”

GTT is a McLean, Va.-based cloud networking provider that filed bankruptcy on Oct. 31, 2021 under Chapter 11 case number 21-11880.

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