Suitable Technologies gets exclusivity extension to negotiate plan

By Sarah Lizee

Olympia, Wash., Feb. 5 – Suitable Technologies, Inc. secured a further extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the plan filing period through April 21 from January 21 and the solicitation period through June 21 from March 22.

Suitable Technologies said in its motion that working with the debtor-in-possession facility lender, 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 sufficient time to adequately negotiate and prepare a viable Chapter 11 plan and related disclosure statement.

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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