Extended Stay returns to court seeking another exclusivity extension

By Lisa Kerner

Charlotte, N.C., Dec. 21 - Extended Stay, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive filing period to May 3 from Feb. 1 and the solicitation period to June 30, 2010 from April 1.

In making the request, Extended Stay cited the size and complexity of its case.

A hearing is scheduled for Jan. 14.

In October, Extended Stay received a shorter-than-requested extension from the court.

Extended Stay's exclusive plan-filing period was extended to Feb. 1 from Oct. 13 and the solicitation period to April 1 from Dec. 11. Extended Stay had originally asked the court to extend its exclusive periods to April 13 and June 11, respectively.

The shorter extension was the result of an agreement reached by the company, its special servicer and the creditors committee prior to the hearing, according to an attorney familiar with the case.

Extended Stay, a New York-based owner and operator of mid-priced extended stay hotels, filed for bankruptcy on June 15. Its Chapter 11 case number is 09-13764.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.