Defunct China Fishery Group was granted a six-month extension of exclusive control over its Chapter 11 case on Friday despite strong pushback from creditors, with a New York federal bankruptcy court giving the debtor until November to file a plan, reports Law360.
Under the terms laid down by US Bankruptcy Judge James Garrity at Friday’s hearing, Pacific Andes-owned China Fishery will also have until January 2018 to solicit support for the forthcoming plan, which will hinge on the court-appointed trustee’s ongoing efforts to maximize the value of China Fishery’s “crown jewel” Peruvian fishing operations.
Garrity
