Bankruptcy court to owner of New York office tower: “Get moving”

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By Leslie A. Pappas (March 24, 2022, 8:45 p.m. EDT) — The bankrupt owner of two luxury office towers in New York and Chicago was granted a four-month extension to file his Chapter 11 plan on Thursday, but he came with a warning from a Delaware bankruptcy judge to pick up the pace.

Despite telling a virtual hearing on Thursday that she didn’t understand debtors’ “extended” schedule, U.S. Bankruptcy Judge Mary F. Walrath for the District of Delaware ordered PWM Property Management LLC to file its plan by June and have it confirmed by August.

PWM, which owns a 44-story building at 245 Park Ave. in Midtown Manhattan and a 50-story tower…

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