MPC computers requests fourth exclusivity extension to complete plan

By Alice Popovici

New York, Oct. 30 - MPC Computers, LLC requested a fourth extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Dec. 30 from Oct. 30 and the solicitation period to March 3 from Jan. 4. MPC was granted its third extension in September.

A hearing is scheduled for Nov. 12.

The company said it has worked to find financing or a purchaser for substantially all of its assets and determined that "an orderly liquidation of [its] assets would be in the best interest of all stakeholders." The motion states that more time is needed to accomplish tasks in connection with the liquidation, "evaluate all claims and negotiate the terms of a Chapter 11 plan with other creditor constituencies."

MPC, a major U.S. personal computer vendor since 1991, provides enterprise internet technology hardware services to mid-sized businesses, government agencies and education organizations. The company filed for bankruptcy on Nov. 6, 2008. Its Chapter 11 case number is 08-12667.

© 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.