Henry Ford Village gets exclusivity extension to complete asset sale

By Sarah Lizee

Olympia, Wash., July 14 – Henry Ford Village, Inc. secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Michigan.

Specifically, the court extended the plan filing period through Oct. 18 from Aug. 31 and the solicitation period through Nov. 15 from Oct. 15.

The company said in its motion that the extension would allow it to focus only on closing its sale of its assets without the distractions of other parties filing competing plans.

“Without this opportunity, the debtor’s resources would no doubt be pulled in unproductive directions such that the value of the estate would quickly dissipate to the detriment of all creditors and parties-in-interest,” the company said in its motion.

Henry Ford Village is a senior living community based in Dearborn, Mich. The company filed Chapter 11 bankruptcy on Oct. 28, 2020 under case number 20-51066.

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