Former Videology seeks exclusivity extension to negotiate plan terms

By Caroline Salls

Pittsburgh, Nov. 26 – VG Liquidation, Inc., formerly Videology, Inc., requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Nov. 21 with the U.S. Bankruptcy Court for the District of Delaware.

Videology asked the court to extend its exclusive plan-filing period for 90 days through March 6 from Dec. 6 and the solicitation period through May 6 from Feb. 4.

“The debtors have been operating under the protection of Chapter 11 for approximately six months, and during this time have made significant and material progress in administering the Chapter 11 cases,” the motion said.

“The extension requested in this motion will provide the debtor and their advisers the opportunity to negotiate, confirm and implement the terms of a Chapter 11 plan for the distribution of assets to creditors.”

A hearing is scheduled for Dec. 17.

New York-based Videology is a software provider for converged TV and video advertising. The company filed bankruptcy on May 10, 2018 under Chapter 11 case number 18-11120.

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