Suitable Technologies gets shorter-than-planned exclusivity extension

By Sarah Lizee

Olympia, Wash., Nov. 9 – Suitable Technologies, Inc. obtained an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Monday in the U.S. Bankruptcy Court for the District of Delaware.

The court extended the exclusive plan filing period through Jan. 21 and the exclusive solicitation period through March 22.

As previously reported, the company asked the court to extend the exclusive plan filing period through Feb. 22 and the exclusive solicitation period through April 21.

Suitable Technologies said that obtaining approval of its asset sales, reconciling proofs of claim, evaluating executory contracts and unexpired leases and handling various other tasks related to the administration of the cases, has been a labor-intensive process given the limited resources available to the debtors.

The debtors said the extension would afford them with sufficient time to adequately negotiate and prepare a viable Chapter 11 plan and related disclosure statement.

A hearing is scheduled for Nov. 23.

Suitable Technologies is a Palo Alto, Calif.-based internet services and infrastructure company. The company filed bankruptcy on Feb. 26, 2020 under Chapter 11 case number 20-10432.

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