Katy Industries seeks exclusivity extension, will turn focus to plan

By Caroline Salls

Pittsburgh, Sept. 11 – Katy Industries, Inc. requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend its exclusive plan-filing period through Dec. 11 from Sept. 11 and the solicitation period through Feb. 8 from Nov. 10.

Katy said its efforts to date have been focused on sale and post-sale transition issues.

“The debtors, however, are now able to devote appropriate resources and time, previously allocated to the sale, to develop and implement a successful plan of liquidation in these Chapter 11 cases,” the motion said.

In addition, Katy said the bar dates for filing general unsecured claims and initial administrative claims have not yet passed. As a result, the company said it is missing critical information regarding its liabilities to properly formulate a plan.

A hearing is scheduled for Nov. 2.

Katy, a St. Louis-based manufacturer, importer and distributor of commercial cleaning and consumer storage products, filed bankruptcy on May 14 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 17-11101.

© 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.