EZ Lube seeks third exclusivity extension to negotiate plan terms

By Alice Popovici

New York, Nov. 6 - EZ Lube, LLC requested a third extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Dec. 21 from Nov. 5 and the solicitation period to Feb. 18 from Jan. 4.

A hearing has not yet been scheduled.

Since filing for Chapter 11, the company said it has focused substantially all its efforts on selling its assets and, "when that did not occur, the reorganization of [its] cases."

The company added that it is requesting the 45-day extension "out of an abundance of caution" and anticipates that the relief sought in this motion "shall become moot upon the effective date of the plan."

EZ Lube, a Santa Ana, Calif.-based quick lube operator, filed for bankruptcy on Dec. 9, 2008. Its Chapter 11 case number is 08-13256.

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