MPC granted shorter-than-requested exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., March 27 - MPC Computers, LLC obtained a shorter-than-requested extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan Friday from the U.S. Bankruptcy Court for the District of Delaware, according to an attorney.

The exclusive plan-filing period was extended by 90 days to June 4 and the solicitation period by the same amount of time to Aug. 3.

The company had asked the court to extend the exclusive plan-filing period by 120 days to July 4 and the solicitation period by the same amount of time to Sept. 2.

When requesting the extension, MPC said it had determined that an orderly liquidation of its assets was in the best interest of all stakeholders.

The company said it had formed a strategy for an orderly liquidation and made strides in its efforts.

However, MPC said until further progress was made in connection with the efforts, formulating and negotiating a plan would distract its remaining workforce from maximizing value in connection with an orderly liquidation.

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

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