Solavei court authorizes delay of exclusive plan periods by two months

By Kali Hays

New York, Oct. 22 – Solavei, LLC obtained approval of a 60-day extension of its exclusive Chapter 11 plan filing and solicitation periods, according to a Tuesday order with the U.S. Bankruptcy Court for the Western District of Washington.

The company’s exclusive filing period is extended through Dec. 15 from Oct. 9 and its solicitation period through Feb. 20 from Dec. 8.

As previously reported, Solavei said that since filing for bankruptcy, it has rolled out a revised business plan that has “received a very enthusiastic response,” which it expects will result in “a gradual uptick in customers,” according to the motion.

With the introduction of the business plan, the company said that “it has become clear interested parties will need to understand the results of the recent changes to Solavei’s plan before they can reach a final decision on a transaction with the company.”

Solavei, a social commerce telecommunications company with headquarters in Bellevue, Wash., filed for bankruptcy on June 11. The Chapter 11 case number is 14-14505.

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