Loral asks court to extend exclusive right to solicit votes to March 31

By Jeff Pines

Washington, Dec. 21 - Loral Space & Communications Ltd. asked the U.S. Bankruptcy Court for the Southern District of New York on Tuesday to extend its exclusive right to solicit votes for its reorganization to March 31.

Its exclusive period is scheduled to end Dec. 27, and with the hearing on Loral's disclosure statement adjourned until Jan. 11, the New York-based satellite company said it needs more time.

Loral said it is working with its creditors' committee, ad-hoc committee of trade creditors and investment firm Angelo Gordon & Co. Inc. to resolve the issues raised at the disclosure statement hearing.

The hearing on the extension is scheduled for Jan. 11.

Loral filed for bankruptcy on July 15, 2003. Its Chapter 11 case number is 03-41710.

© 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.