Cdex, Inc. (fka CDEX)

[Crow3]

CDEX wants the period extended when they can be the only one filing a plan of reorganization. Copied from PDF...No I ain't a gonna go to the trouble of making this one easier to read!!


Eric Slocum Sparks
Arizona State Bar No. 11726
LAW OFFICES OF ERIC SLOCUM SPARKS, P.C.
110 South Church Avenue #2270
Tucson, Arizona 85701
Telephone [phone]
Facsimile [phone]
[e-mail]
Attorney for Debtor
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF ARIZONA
In re: ))
CDEX INC, ) Case No. 4:12-bk-02402-JMM
)
))
Chapter 11
)
Debtor. ) MOTION PURSUANT TO
) SECTION 1121 OF THE BANKRUPTCY
) CODE TO EXTEND THE EXCLUSIVITY
) PERIOD DURING WHICH THE
) DEBTOR MAY SOLICIT ACCEPTANCES
) OF ITS PLAN OF REORGANIZATION
)
____________________________________)
COMES NOW the Debtor, Debtor-In-Possession, CDEX Inc., (“Debtor”) through its undersigned
attorney and moves this Court for an Order extending the exclusivity period an additional (60) sixty days
during which the Debtor may solicit acceptances of its Plan of Reorganization.
In support of its Motion, the Debtor alleges as follows:
I. BACKGROUND
1. On February 10, 2012, Debtor filed its Petition for Relief under Chapter 11, Title 11 of the
United States Code. Debtor is continuing to operate its business and manage its property as a
Debtor-In-Possession, pursuant to Sections 1107(a) and 1108 of the Bankruptcy Code.
2. On May 25, 2012, Debtor filed its First Disclosure Statement and First Plan of Reorganization.
3. On July 16, 2012, a hearing on approval of Debtor’s Disclosure Statement was held before this
Court. Debtor has agreed to amend the Disclosure Statement pursuant to concerns raised by
interested parties and submit an Amended Disclosure Statement to the Court by July 25, 2012.
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4. A hearing on Confirmation of the Debtor’s Plan is currently scheduled for August 24, 2012.
II. LAW
5. Section 1121(c)(3) of the Bankruptcy Code provides for an initial period of 180 days after the
date on which a Chapter 11 Petition is filed during which a debtor has the exclusive right to
solicit acceptances of its Plan.
6. Section 1121 of the Bankruptcy Code provides:
(a) The debtor may file a plan with a petition commencing a voluntary case, or at any time
in a voluntary case or an involuntary case.
(b) Except as otherwise provided in this section, only the debtor may file a plan until after
120 days after the date of the order for relief under this chapter.
(c) Any party in interest, including the debtor, the trustee, a creditors’ committee, an equity
security holders’ committee, a creditor, an equity security holder, or any indenture
trustee, may file a plan if and only if -
(1) a trustee has been appointed under this chapter;
(2) the debtor has not filed a plan that has been accepted, before 180 days after the date
of the order for relief under this chapter, by each class of claims or interests that is impaired under the
plan.
(d) (1) Subject to paragraph (2), on request of a party in interest made within the respective
periods specified in subsections (b) and (c) of this section and after notice and a hearing, the court may
for cause reduce or increase the 120-day period or the 180-day period referred to in this section.
(2) (A) The 120-day period specified in paragraph (1) may not be extended beyond a date
that is 18 months after the date of the order for relief under this chapter.
(B) The 180-day period specified in paragraph (1) may not be extended beyond a date
that is 20 months after the date of the order for relief under this chapter.
11 U.S.C. § 1121.
7. The exclusive period of 180 days provided for in Section 1121 of the Bankruptcy Code (the
“Exclusivity Period”) expires with respect to Debtor herein on August 8, 2012. A hearing on
Confirmation of the Debtors Plan of Reorganization is currently scheduled for August 24, 2012.
8. Debtor submits under the circumstances of this Chapter 11 case an extension of the Exclusivity
Period is warranted and is in the best interest of its estate, its creditors and all other parties-in-interest.
9. Debtor requests a sixty (60) day extension of the Exclusivity Period to solicit acceptances of its
Plan of Reorganization. Debtor believes the extension requested does not prejudice the interest of any
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creditor or other party-in-interest and will enable Debtor to pursue its objective of a consensual plan of
reorganization as contemplated by Chapter 11 of the Bankruptcy Code.
WHEREFORE, Debtor respectfully requests the Court enter an Order extending the Exclusivity
Period by an additional sixty (60) days from August 8, 2012, to October 8, 2012 and granting Debtor
such other and further relief as is just.
Dated: July 18, 2012.
LAW OFFICES OF
ERIC SLOCUM SPARKS, P.C.
/s/ Sparks AZBAR # 11726
Eric Slocum Sparks
Attorney for Debtor
COPIES of the foregoing
mailed/delivered/faxed
July 18, 2012, to:
Elizabeth C. Amorosi, Esq.
Asst. U. S. Trustee
United States Trustee
230 N. First Ave. #204
Phoenix, AZ 85003
[e-mail]
Robert M. Charles, Jr., Esq.
Lewis and Roca, LLP
One South Church Ave., Suite 700
Tucson, AZ 85701
Attorney for Gemini Master Fund, Ltd.
[e-mail]
Brian A. Laird, Esq.
Heurlin Sherlock Laird
1636 N. Swan Rd. Suite 200
Tucson, AZ 85712
Attorney for James Ryles
[e-mail]
U.S. Securities and Exchange Commission
Attn: Sarah D. Moyed
5670 Wilshire Boulevard, Suite 1100
Los Angeles, CA 90036-3648
[e-mail]
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U.S. Securities and Exchange Commission
Attn: Sandra W. Lavigna
5670 Wilshire Boulevard, Suite 1100
Los Angeles, CA 90036-3648
[e-mail]
U.S. Securities and Exchange Commission
Attn: Michael A. Berman
Station Place
100 F Street, N.E.
Washington, DC 20549
Nevada Secretary of State
Securities Division
555 East Washington Ave., Suite 5200
Las Vegas, NV 89101
Nevada Secretary of State
Commercial Recordings Division
202 N. Carson Street
Carson City, NV 89701
Catherine Cortez Masto
Attorney General, State of Nevada
110 N. Carson Street
Carson City, NV 89701-4717
U.S. Department of Justice
Office of the Attorney General
Eric H. Holder, Jr.
950 Pennsylvania Avenue, N.W.
Washington, DC 20530-0001
Financial Industry Regulatory Authority
OTC Compliance Unit
9509 Key West Avenue
Rockville, MD 20850
OFFICIAL COMMITTEE OF
UNSECURED CREDITORS
Cynthia Samson - [e-mail]
P. O. Box 5729
Scottsdale, AZ 85261
Daniel Groff - [e-mail]
8002 E. Rosewood St.
Tucson, AZ 85710
IAM Investment Group, LP - [e-mail]
Attn: Malcolm Philips
20221 Middletown Rd.
Cornelius, NC 28031
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Lucas Baer - [e-mail]
9050 N. Shadow Rock Dr.
Tucson, AZ 85743
/s/ L. Anderson
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