Stoneway Capital seeks exclusivity extension, eyes May emergence

By Sarah Lizee

Olympia, Wash., Feb. 28 – Stoneway Capital Ltd. asked for another extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company asked the court to extend the plan filing period through May 16 from Feb. 28 and the solicitation period through July 15 from April 29.

The company said that although a plan and disclosure statement were filed within the prior exclusive filing period, it is seeking another exclusivity extension out of an abundance of caution.

Stoneway said it anticipates that its plan will be able to go effective in May.

Stoneway is a privately held New Brunswick, Canada, company based in Buenos Aires and established in 2016 for the purpose of constructing, owning and operating power plants to provide electricity to the wholesale electricity market in Argentina through indirect subsidiaries. The company filed bankruptcy on April 7, 2021 under Chapter 11 case number 21-10646.

© 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.