GreenTech exclusive plan solicitation period extended through Jan. 22

By Caroline Salls

Pittsburgh, Nov. 15 – GreenTech Automotive, Inc. obtained extension through Jan. 22 of its exclusive period for soliciting votes on its plan of liquidation, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The exclusive plan-vote solicitation period was previously scheduled to expire on Nov. 23.

With a new asset purchase agreement in place and a third amended plan and related disclosure statement recently filed, the company said it is “making every effort to move the plan process along expeditiously.”

“However, even with expedited consideration, it is simply not possible for the debtors to confirm a plan before the exclusive solicitation period expires on Nov. 23,” GreenTech said in the motion.

GreenTech is a Sterling, Va.-based electric vehicle manufacturer. The company filed for bankruptcy on Feb. 26 under Chapter 11 case number 18-10651.

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