Workflow Management eyes new date for Silver Point exclusivity motion

By Lisa Kerner

Charlotte, N.C., Nov. 22 - Workflow Management, Inc. asked the court to adjourn to Dec. 15 the Nov. 30 hearing on the motion by second-lien agent Silver Point Finance, LLC to terminate the debtors' exclusive periods to file a plan of reorganization and solicit acceptances, or authorize and direct a 363 sale of the company's assets, according to a Monday filing with the U.S. Bankruptcy Court for the Eastern District of Virginia.

A hearing on Workflow Management's disclosure statement is also set for Dec. 15.

Because the issues expected to be addressed at the disclosure statement hearing overlap with the issues raised by Silver Point in the motion to terminate exclusivity, Workflow Management suggests that both hearings be conducted together on Dec. 15, the filing said.

As previously reported, negotiations between the debtors and the lenders have not resulted in any progress toward a consensual Chapter 11 plan.

Silver Point believes that the plan being pursued will not be confirmed and will waste many months and millions of dollars.

A 363 sale, if authorized, would preserve the debtor's business as a going concern.

Workflow Management, a Dayton, Ohio-based provider of end-to-end business management outsourcing services to commercial customers, filed for bankruptcy on Sept. 29. The Chapter 11 case number is 10-74617.

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