MTE gets exclusivity extension to continue lien reconciliation

By Sarah Lizee

Olympia, Wash., Oct. 13 – MTE Holdings LLC obtained a fourth extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The exclusive plan-filing period was extended through Dec. 1 from Sept. 29 and the solicitation period through Jan. 30 from Nov. 30.

As previously reported, the company had asked the court to extend the plan-filing period through Dec. 31 and the solicitation period through March 1.

The debtors said in their extension motion that they are in the midst of the lien reconciliation process, and they submitted a motion for an order to consolidate the 53 adversary proceedings filed by statutory lien claimants who are asserting priority for their claims over the security interest of Natixis and BMO.

MTE requested the extension to continue the lien reconciliation process and to develop a formal plan of reorganization.

MTE is a Midland, Tex.-based holding company. The company filed bankruptcy on Oct. 22, 2019 under Chapter 11 case number 19-12269.

© 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.