Former Dean Foods gets another extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Feb. 4 – Southern Foods Groups, LLC, formerly Dean Foods Co., obtained another extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a notice filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

As previously reported, the court had extended the plan filing period through Feb. 4 from Dec. 21 and the solicitation period through April 5 from Feb. 19.

Upon written consent from the committee, the plan filing period will be automatically extended through March 22 and the solicitation period through May 21, according to Thursday’s notice.

Over the past several months, the debtors and the committee have worked together constructively to formulate a confirmable Chapter 11 plan that will maximize distributable value to the debtors’ creditors, the motion said.

As a result of these efforts, on Nov. 30, the debtors filed a joint Chapter 11 plan of liquidation and disclosure statement.

“Nevertheless, the debtors seek an extension of the exclusive periods to allow sufficient time for the solicitation of acceptance of the plan as well as for its confirmation,” the company said.

Dean Foods is a Dallas-based food and beverage company. The company filed bankruptcy on Nov. 12, 2019 under Chapter 11 case number 19-36313.

© 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.