VPX Sports asks for 120-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Jan. 24 – Vital Pharmaceuticals, Inc., which does business as VPX Sports, is seeking a 120-day 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 Florida.

The extension would take the plan filing period through June 7 and the solicitation period through Aug. 8.

The company said its exclusivity shouldn’t be terminated because its transaction process allows for parties to submit a bid in the form of a plan of reorganization.

“If a party wants to propose a plan, they can do so within the process already being run by the debtors,” the company said.

“In contrast, ending the debtors’ exclusive periods would undermine the orderly transaction process that the debtors already have in place and that enjoys the support of its key economic constituents.”

A hearing is scheduled for Feb. 2.

The Pembroke Pines, Fla.-based the maker of Bang energy drinks and other products filed Chapter 11 bankruptcy on Oct. 10 under case number 22-17842.

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