Former Pemco World Air gets 90-day extension of plan exclusive periods

By Jim Witters

Wilmington, Del., Jan. 28 - WAS Services, Inc., formerly Pemco World Air Services, Inc., received approval for a 90-day precautionary extension of its exclusive periods for filing a Chapter 11 plan and for soliciting plan acceptances, according to documents filed Jan. 28 with the U.S. Bankruptcy Court for the District of Delaware.

In requesting the extension, the company said it acted "out of an abundance of caution," in case any confirmation issues arise.

As previously reported, the company filed its first amended plan of liquidation in November.

WAS Services said it expects a plan confirmation hearing to be set and the plan to be confirmed soon.

The court's order extends the exclusive period for filing a plan of reorganization to April 4 from Jan. 4 and the exclusive period for soliciting votes to June 3 from March 4.

Tampa, Fla.-based Pemco performs large jet maintenance and repair services. It filed for bankruptcy on March 6, 2012 under Chapter 11 case number 12-10799.

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