225 Bowery secures three-month extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Jan. 5 – 225 Bowery LLC secured a three-month extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the exclusive plan filing period through March 20 and the exclusive solicitation period through May 20.

As previously reported, the company has filed a Chapter 11 plan. The hearing on approval of the disclosure statement is scheduled for Jan. 23.

“While the debtor has made a great amount of progress towards confirmation, if the exclusive periods are not extended and control of the administration of the debtor’s estate is improperly wrested away now, the debtor is concerned that the Chapter 11 case could be unnecessarily disrupted, the exit from the Chapter 11 case delayed, and further administrative expenses incurred,” the company said in the motion.

The New York-based hotel property owner filed Chapter 11 bankruptcy on Jan. 24, 2023 under case number 23-10094.

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