Former Edgenet allowed further 60-day extension of exclusive periods

By Kali Hays

New York, Sept. 25 – EI Wind Down, Inc., formerly Edgenet, Inc., obtained a third extension of its exclusive plan of reorganization filing and solicitation periods, according to a Thursday order from the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive filing period is extended through Nov. 13 from Sept. 14 and its solicitation period through Jan. 9 from Nov. 10.

Upon requesting the extension, EI said it will not have the necessary information to structure a plan until an adversary proceeding against Ernest Han-Ping Wu is decided on by the court.

EI initiated the litigation against Wu for the avoidance of a preferential transfer and a claimed security interest.

While it awaits a court ruling, EI intends to “address other pressing issues,” according to the motion.

EI Wind Down, an Atlanta-based provider of cloud-based content, applications and services, filed for bankruptcy on Jan. 14, 2014. The Chapter 11 case number is 14-10066.

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