Knotel Extends Ch. 11 Sale Deadline To Appease Creditors

Law360 (February 18, 2021, 7:59 PM EST) -- Workspace provider Knotel Inc. told a Delaware bankruptcy judge Thursday that it had reached a deal with unsecured creditors to add two weeks to its Chapter 11 sale timeline after those creditors argued that the plan was moving too quickly.

During a virtual hearing, debtor attorney Mark Shinderman of Milbank LLP said Knotel understood the concerns raised by the official committee of unsecured creditors about the originally proposed sale timeline and engaged in fruitful negotiations to resolve the opposition.

"We understood the request for more time," Shinderman told the court. "More time requires more money so what we've agreed is that...

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