White Stallion Energy seeks another 120-day exclusivity extension

By Sarah Lizee

Olympia, Wash., Nov. 24 – White Stallion Energy, LLC is seeking another 120-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the plan filing period through March 28 from Nov. 27 and the solicitation period through May 26 from Jan. 26.

The company said its Chapter 11 cases have presented various complex and time-consuming issues, including negotiating and finalizing the terms of a sale of assets to Responsible Energy Operations, LLC, which closed on Nov. 11.

The company also spent time negotiating and seeking approval of a settlement between the debtors, the official committee of unsecured creditors and its pre-petition lenders.

“These issues, among others, have required the full focus of the debtors and their professionals since the petition date and will form the foundation for a resolution of these Chapter 11 cases,” the company said in its motion.

“A plan from a non-debtor party at this point in these Chapter 11 cases will only cause unnecessary distractions for the debtors and their professionals, who should be focused on the execution of a comprehensive effort to maximize the value of the debtors’ assets for the benefit of their creditors.”

White Stallion Energy is a coal mining company based in Evansville, Ind. The company filed bankruptcy on Dec. 2, 2020 under Chapter 11 case number 20-13037.

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