Louisiana Pellets secures exclusivity extension; trustee can file plan

By Caroline Salls

Pittsburgh, Oct. 20 – Louisiana Pellets, Inc. and German Pellets Louisiana, LLC obtained a second extension of their exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the Western District of Louisiana.

The debtors’ exclusive plan-filing period was extended to Dec. 14 from Sept. 15 and the solicitation period to Feb. 13 from Nov. 14.

Despite the extension, the order said the company’s bond trustee will have the right at any time to file a plan in these cases and solicit votes on that plan.

“The debtors submit additional time should be granted to allow the debtors to continue to monitor production and revenue levels and to continue to advance a marketing process, which is now entering a diligence phase,” the motion said.

The debtors said they are making progress toward reorganization “and have prospects of filing a viable plan.”

Based in Urania, La., Louisiana Pellets manufactures wood pellets. The company filed for bankruptcy on Feb. 18, 2016 under Chapter 11 case number 16-80162.

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