Trigeant eyes extra two months to solicit votes on reorganization plan

By Kali Hays

New York, Feb. 5 – Trigeant Holdings, Ltd. is seeking a 60-day extension of its Chapter 11 plan solicitation period, according to a Feb. 4 motion with the U.S. Bankruptcy Court for the Southern District of Florida.

Trigeant asked the solicitation period be extended through April 22 from Feb. 21.

Though the company still maintains that no classes of creditors are impaired under its proposed reorganization plan, it is requesting the extension “to avoid any potential confusion on this issue” and to allow solicitation of the votes of a class of equity interests “in an abundance of caution.”

The class votes are due by Feb. 12, according to the motion.

Trigeant went on to say that had creditor BTB Refining, LLC not “hotly contested” the company’s plan, terminated its exclusive periods and filed and withdrawn its own version of the plan, “the confirmation hearing in these cases would have already occurred.”

Trigeant, a Boca Raton, Fla.-based petroleum company, filed for bankruptcy on Aug. 25. The Chapter 11 case number is 14-29027.

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