Northvolt Gets New Extension to Submit Documents to US Court
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Swedish battery maker Northvolt AB has been granted a second deadline extension to file schedules and statements with a bankruptcy court in the U.S., according to a ruling on Jan. 15 seen by Bloomberg News.
The deadline was pushed back almost a month to Feb. 18, U.S. bankruptcy Judge Alfredo Perez said in the statement. In its application for an extension, Northvolt’s legal representatives wrote that the company and its advisers did not have enough time and effort “in the early days” of the Chapter 11 process to prepare the documents because it was focused on soliciting proposals for new funding and divesting non-core businesses.
Northvolt sought bankruptcy protection in the U.S. in November after a bid to secure rescue funding fell short, leaving the company with just one week’s cash and $5.84 billion in debt. A spokesman for the battery maker declined to comment on the court’s extension.
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