A host of reasons can cause bankruptcy timelines to slide—ongoing negotiations, buyers dealing with their lenders, holidays, court scheduling issues, perhaps a dearth of interested buyers, and more. These types of changes are usually more of a stew of events than they are attributable to any single ingredient.

An earlier post included a timetable for the Voyager sale process that contemplated a September 8 hearing to approve one or more sale of assets to an as-of-yet-undetermined bidder or bidders. Voyager also initially planned for a Chapter 11 plan confirmation process that would have a disclosure statement hearing on September 29.

This table summarizes the current timeline adjustments.

ActionOld DeadlineCurrent Deadline
Sale Process Timeline  
Deadline to submit Qualified BidsAug. 26Sept. 6
Auction begins (if competing bids submitted)Aug. 29Sept. 13
Deadline to file objections to saleSept. 6Sept. 22
Sale Hearing before bankruptcy courtSept. 8Sept. 29
Plan Confirmation Timeline  
Deadline to object to Disclosure StatementSept. 9Sept. 22
Disclosure Statement hearingSept. 15Sept. 29
Deadline to object to Plan confirmationOct. 24Nov. 8
Confirmation hearingNov. 1Nov. 15

There may be future changes, so stay tuned.