White Eagle Asset Portfolio seeks three-month exclusivity extension

By Caroline Salls

Pittsburgh, March 14 – White Eagle Asset Portfolio, LP is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

White Eagle is asking the court to extend its exclusive plan-filing period by 90 days through June 14 and the solicitation period through Aug. 16.

The company also filed a plan of reorganization and related disclosure statement on Wednesday.

According to the exclusivity extension motion, White Eagle is in the process of lining up exit financing as part of the plan and intends to seek estimation of the allowed amount of the claim of principal secured lender LNV Corp.

White Eagle said it is requesting the exclusivity extension “out of an abundance of caution in order to ensure that the exclusivity periods are extended pending confirmation and consummation of the plan.”

A hearing is scheduled for April 16.

White Eagle is a wholly owned indirect subsidiary of Emergent Capital, Inc., a Boca Raton, Fla., specialty finance company that invests in life settlements. White Eagle filed bankruptcy on Dec. 13. The Chapter 11 case is being administered under case number 18-12808.

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