White Eagle Asset Portfolio secures three-month exclusivity extension

By Caroline Salls

Pittsburgh, May 7 – White Eagle Asset Portfolio, LP obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

White Eagle’s exclusive plan-filing period was extended by 90 days through June 14 and the solicitation period through Aug. 16.

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

White Eagle said it was 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.”

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, 2018. The Chapter 11 case is being administered under case number 18-12808.

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