Stanadyne secures another extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Aug. 15 – Stanadyne LLC received another extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the exclusive plan filing period through Aug. 30 from July 31 and the exclusive solicitation period through Oct. 30 from Sept. 29.

The company said in its motion seeking the extension that since the first extension order, the debtors have worked toward the closing of the sale of its assets, worked with the official committee of unsecured creditors to advance the terms of a Chapter 11 plan in line with a recent settlement, and handled other various tasks related to the administration of the cases.

Stanadyne said the extension will give it sufficient time to finalize and execute an appropriate Chapter 11 exit strategy.

Stanadyne is an automotive parts manufacturer based in Jacksonville, N.C. The company filed bankruptcy on Feb. 16 under Chapter 11 case number 23-10207.

© 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.