Ditech Holding seeks precautionary two-month exclusivity extension

By Caroline Salls

Pittsburgh, July 25 – Ditech Holding Corp. 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 Southern District of New York.

The company is asking the court to extend its exclusive plan-filing period by two months through Oct. 10 and the solicitation period through Dec. 9.

Ditech said its plan confirmation hearing is scheduled to begin on Aug. 7, and its exclusive filing period expires three days later, on Aug. 10.

“Accordingly, out of an abundance of caution...the debtors are seeking a modest two-month extension of the exclusive periods to complete prosecution of their plan and sale transaction embodied therein, should confirmation of the plan take longer than expected,” the motion said.

The extension hearing is set for Aug. 7.

Ditech is a mortgage servicer, asset manager and portfolio owner based in Fort Washington, Pa. The company filed bankruptcy on Feb. 11 under Chapter 11 case number 19-10412.

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