Guaranty Financial Group granted three-month exclusivity extension

By Caroline Salls

Pittsburgh, July 22 - Guaranty Financial Group, Inc. received an extension to its exclusive periods for filing a plan of reorganization and soliciting votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the Northern District of Texas.

The company's exclusive plan-filing period was extended to Oct. 18 from July 19 and the solicitation period to Dec. 17 from Sept. 17.

According to the motion, an extension will give the debtors and other interested parties more time to gain a better understanding of the Federal Deposit Insurance Corp.'s unresolved claims against the estate and to more fully explore the possibility of a settlement.

Guaranty Financial, a Dallas-based unitary thrift holding company, filed for bankruptcy on Aug. 27, 2009. Its Chapter 11 case number is 09-35582.

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