Majestic Capital gets additional time to file plan, garner support

By Lisa Kerner

Charlotte, N.C., Sept. 15 - Majestic Capital, Ltd. was granted its request for an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The court extended the company's exclusive filing period to Oct. 28 from Aug. 27 and the exclusive solicitation period to Dec. 28 from Oct. 26.

When making its request, Majestic said the extensions would allow exclusivity to be "coterminous with the plan filing deadline as set for in the scheduling order," and would give the debtors time to work with the official committee of unsecured creditors on a consensual plan.

The creditors committee agrees with the extension request, a prior court filing said.

Majestic Capital, a Bermuda-based specialty provider of workers' compensation insurance, filed for bankruptcy on April 29. The Chapter 11 case number is 11-36225.

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