Moonlight Basin exclusive plan filing period extended to Dec. 1

By Caroline Salls

Pittsburgh, June 10 - Moonlight Basin Ranch LP's exclusive plan of reorganization filing period has been extended to Dec. 1 from June 17, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Montana.

According to the order, the direction of Moonlight Basin's case depends almost entirely on the outcome of litigation with its largest single creditors Lehman Brothers Holdings Inc. and Lehman Commercial Paper Inc.

Although Lehman opposed the exclusivity extension, judge Ralph B. Kirscher said Lehman also objected to holding a trial on the litigation in October, arguing that the related issues could be very complicated.

"Given the dominant role that Lehman has in this case, the court finds that cause exists to extend the exclusivity period, at least until the issues between Lehman and the debtors are narrowed," the order said.

Moonlight Basin, an Ennis, Mont., resort, filed for bankruptcy on Nov. 18, 2009. Its Chapter 11 case number is 09-62327.

© 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.