21st Century Oncology eyes precautionary 120-day exclusivity extension

By Caroline Salls

Pittsburgh, Sept. 6 – 21st Century Oncology Holdings, Inc. is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

The company is asking the court to extend its exclusive plan-filing period by 120 days through Jan. 20 and the solicitation period through March 21, 2018.

In compliance with milestones set in its restructuring support agreement, the company said it filed a plan on July 14. The disclosure statement hearing is scheduled for Sept. 19.

“Despite having already filed a plan, the debtors believe it is prudent to seek an extension of the exclusivity periods in order to preserve their exclusive ability to file and solicit a new plan of reorganization, should unforeseen issues arise with respect to the confirmation of the plan,” the motion said.

“Out of an abundance of caution, the debtors therefore seek a 120-day extension of the exclusivity periods to permit the debtors to finalize the transactions contemplated by the plan and proceed toward their goal of confirming a consensual, value-maximizing Chapter 11 plan of reorganization in an efficient, organized fashion.”

A hearing is scheduled for Sept. 19.

21st Century Oncology, a Fort Myers, Fla.-based provider of integrated cancer care services, filed for bankruptcy on May 25. The Chapter 11 case number is 17-22770.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.