Cengage Learning filed with the U.S. Bankruptcy Court an objection to its official committee of unsecured creditors’ motion for an order continuing the hearings to consider both the Debtors’ Disclosure Statement and Plan of Reorganization. The objection states, “The Debtors object to the Committee’s request to adjourn the hearing on the Disclosure Statement to October 25, 2013 and delay the plan confirmation timeline. The Adjournment Motion should be denied as it attempts to impose arbitrary restrictions on the Debtors’ ability to conduct these chapter 11 cases in the way they believe is most appropriate and, more importantly, it seeks only to delay as opposed to proposing a definitive timeline for the Debtors’ emergence from chapter 11. As this Court is aware, it is critical that the Debtors’ Chapter 11 cases proceed in an efficient manner and without undue delay to protect the Debtors’ businesses and maximize value of the Debtors’ estates.”
About Ben Schlafman
Ben Schlafman is a University of Rhode Island graduate in Political Science and Marketing who got his start selling and promoting bankruptcy and distressed data products for New Generation Research, Inc. With over 8 years of hands on experience in the bankruptcy and distressed sectors, Ben writes, manages and supports an array of restructuring products under the New Generation Research umbrella.