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.

© 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.