Katerra receives exclusivity extension to sell remaining assets

By Sarah Lizee

Olympia, Wash., Sept. 30 – Katerra, Inc. secured an 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 Southern District of Texas.

Specifically, the court extended the plan filing period through Dec. 3 from Oct. 4 and the solicitation period through Feb. 1, 2022 from Dec. 3.

Katerra has filed a Chapter 11 plan and related disclosure statement, as previously reported. A combined hearing on the statement and plan is set for Oct. 21.

“The plan represents the culmination of immense efforts by the debtors and their stakeholders and provides a pathway to bringing these cases to a value-maximizing conclusion,” the company said in its motion.

“The debtors believe that maintaining the exclusive right to file and solicit votes on a Chapter 11 plan is critical to consummating their Chapter 11 strategy.”

The company said that extending the exclusivity periods will afford the debtors time to continue to sell their remaining assets and to confirm the plan.

Katerra is a technology-enabled construction company based in Menlo Park, Calif. The company filed bankruptcy on June 6 under Chapter 11 case number 21-31861.

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