Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Nightdaytrader]

Two Debtor filings submitted on 9/11:

1.) So in one filing, the Debtors object to formal Equity Committee saying we are too far out of the money.

2.) Then in next filing below, the Debtors want a 120 day extension.

ND9

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DEBTORS’ MOTION TO (I) EXTEND THE EXCLUSIVITY PERIODS TO FILE A CHAPTER 11 PLAN AND SOLICIT ACCEPTANCES THEREOF AND (II) GRANTING RELATED RELIEF

The above-captioned debtors and debtors in possession (collectively, the “Debtors”)respectfully state the following in support of this Motion:

Preliminary Statement
1. On the precipice of a going-concern transaction, it is critical that the Debtors obtain
their first extension of the Exclusivity Periods (as defined herein) to allow for the consummation
of a value-maximizing transaction. Currently, the Debtors’ exclusive right to file a chapter 11 plan
expires on September 14, 2020, and the Debtors’ exclusive right to solicit votes in favor of a plan
expires on November 13, 2020. The Debtors seek a 120-day extension of the Exclusivity Periods
(as defined herein) to file and solicit acceptances of a chapter 11 plan so that they may continue to
diligently pursue an appropriate and value-maximizing resolution of these chapter 11 cases.

https://cases.primeclerk.com/JCPenney/Home-DocketInfo