Medly requests 90-day exclusivity extension as it seeks conversion

By Sarah Lizee

Olympia, Wash., April 10 – Medly Health Inc. is seeking a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the exclusive plan filing period through July 10 from April 10 and the exclusive solicitation period through Sept. 9 from June 7.

As previously reported, the company is now seeking to convert its case to Chapter 7. A hearing on the motion is scheduled for April 25.

Medly said it filed the exclusivity extension motion in an abundance of caution to preserve the debtors’ exclusive right to propose a plan in the event the cases are not converted.

The Boulder, Colo.-based pharmacy company filed Chapter 11 bankruptcy on Dec. 9 under case number 22-11257.

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