Las Vegas Monorail eyes exclusivity extension pending dismissal ruling

By Caroline Salls

Pittsburgh, April 22 - Las Vegas Monorail Co. is seeking an extension to its exclusive plan of reorganization filing and vote solicitation periods, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Nevada.

Specifically, the company wants to extend its exclusive filing period to Aug. 17 from May 19 and the solicitation period to Oct. 18.

As a result of contested case dismissal and cash collateral motions and the uncertainties associated with those motions, the company said it was unable to devote time or resources to formulate a plan.

Las Vegas Monorail said the court has not made a decision on either motion.

In light of the possibility that the case could be dismissed, the company said it would not be wise to formulate a plan before the dismissal ruling.

A hearing is scheduled for May 19.

The company, a Las Vegas non-profit monorail operator, filed for bankruptcy on Jan. 13. The Chapter 11 case number is 10-10464.

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