GigaMonster Networks eyes fourth extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., March 8 – GigaMonster Networks, LLC is seeking a fourth 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.

The company asked the court to extend the exclusive plan filing period through June 10 from March 11 and the exclusive solicitation period through Aug. 12 from May 13.

The company said that since the third extension, it has continued its wind-down efforts and continued to negotiate and resolve open cure issues following the court’s approval of the SkyWare sale.

Additionally, the official committee of unsecured creditors and prepetition agent Barings Asset-Based Income Fund (US) LP have reached a settlement of the pending adversary proceeding filed by the committee against Barings.

The debtors, the committee and Barings have reached an agreement in principle on the terms of a Chapter 11 plan and are finalizing documentation.

The Marietta, Ga.-based internet provider filed bankruptcy on Jan. 16, 2023 under Chapter 11 case number 23-10051.

© 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.