Solavei asks for court OK on second extension of exclusive periods

By Kali Hays

New York, Dec. 15 – Solavei, LLC is seeking a 45-day extension of its exclusive plan filing and solicitation periods, according to a Friday motion with the U.S. Bankruptcy Court for the U.S. Bankruptcy Court for the Western District of Washington.

If approved, Solavei’s exclusive filing period will be extended to Jan. 29 from Dec. 15 and its solicitation period through April. 6 from Feb. 20.

The company said that over the last several weeks it has “identified a small number of potential partners with whom a confirmed plan would likely be achievable.”

“The case is complex in that it involves a non-traditional business model, which requires additional time to secure a strategic and financial partnership or acquisition and to allow the potential partner or acquirer time to evaluate the business and conduct their due diligence,” the motion stated.

A hearing to consider the extension is set for Jan. 9.

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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