Atlantic Express eyes exclusivity extension, cites plan hearing timing

By Caroline Salls

Pittsburgh, April 10 - Atlantic Express Transportation Corp. requested a second extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive filing period through July 7 from May 5 and the solicitation period through Aug. 6 from July 7.

As previously reported, the company filed a plan and disclosure statement on March 31. Atlantic Express said the plan confirmation hearing is likely to be scheduled for June 9.

Atlantic Express said it was filing the extension motion "out of an abundance of caution," as the plan confirmation hearing could not be scheduled before the expiration of the current exclusive filing period.

As a result, the company said the extension will allow it to obtain confirmation of its plan and address any solicitation issues before exclusivity expires again.

A hearing is scheduled for April 29.

Atlantic Express, a Staten Island, N.Y.-based school bus operator, filed for bankruptcy on Nov. 4. The Chapter 11 case number is 13-13591.

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