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WorldVentures secures another exclusivity extension to complete sale
By Sarah Lizee
Olympia, Wash., Oct. 13 – Spherature Investments LLC, which does business as WorldVentures, secured another 60-day 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 Texas.
Specifically, the court extended the plan filing period through Nov. 15 from Sept. 17 and the solicitation period through Jan. 14, 2022 from Nov. 16.
The company has filed a Chapter 11 plan, as previously reported.
WorldVentures said it is continuing to market its assets and may be conducting an auction if there are any qualified bids.
“The debtors should have the ability to conclude the marketing and sale process and solicit the plan without redirecting resources and attention to a competing plan,” the company said in its motion.
Plano, Tex.-based WorldVentures sells travel and lifestyle community memberships. The company filed bankruptcy on Dec. 21, 2020 under Chapter 11 case number 20-42492.
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