TXCO Resources seeks another brief exclusivity extension to file plan

By Alice Popovici

New York, Oct. 20 - TXCO Resources, Inc. requested a two-week extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Western District of Texas.

The company wants to extend its exclusive plan-filing period a third time, to Nov. 12 from Oct. 29, and the solicitation period to Dec. 14 from Nov. 30. Its last extension was granted Oct. 5.

"The requested extension of the exclusive periods will help facilitate further meaningful discussions regarding plan treatment for the various creditor constituencies and, at a minimum, narrow and focus the issues which must be addressed through the plan confirmation process," the motion states. The extension would also provide additional time for the company's financial adviser to work with the committee on plan confirmation issues.

TXCO, a San Antonio-based energy company, filed for bankruptcy on May 18. Its Chapter 11 case number is 09-51807.

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