George Washington Bridge Bus Station requests exclusivity extension

By Caroline Salls

Pittsburgh, April 6 – George Washington Bridge Bus Station Development Venture LLC requested a second extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, George Washington Bus Station asked the court to extend its exclusive plan-filing period through Aug. 4 from April 6 and the solicitation period through Oct. 3 from June 5.

As previously reported, the company filed a plan on Feb. 10. A hearing on the related disclosure statement had been scheduled for March 23, but Friday’s motion said its asset sale and disclosure statement hearings have been adjourned to a date that is yet to be determined.

According to the motion, investors and their lenders are taking a pause to determine the extent of closures from Covid-19, primary markets are entirely shut down, and retailers and operators are requesting rent deferrals.

“In all likelihood, the debtor cannot possibly complete a sale process and emergence from Chapter 11 at this time,” the motion said.

“The debtor needs additional time to resolve the cure and indemnification disputes, address the fall-out from Covid-19 and then, complete the sale or plan process.”

A hearing is scheduled for April 23.

George Washington Bridge Bus Station Development Venture is a Reston, Va.-based development company. The company filed bankruptcy on Oct. 7, 2019 under Chapter 11 case number 19-13196.

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