Stoneway Capital asks for post-confirmation exclusivity extension

By Sarah Lizee

Olympia, Wash., May 16 – Stoneway Capital Ltd. is seeking a post-confirmation 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 June 30 and the solicitation period through Aug. 29.

The company said that while its plan has been confirmed and it could go into effect in the coming days, the exclusive period to file a plan expired on Monday.

“As a result, out of an abundance of caution – while the debtors are actively working to consummate the plan, which would obviate the need for this extension – the debtors are seeking a further extension of exclusivity,” the company said in its motion.

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.