Mountain Express needs more time to file schedules

Chicago, May 8 – Mountain Express Oil Co. is seeking additional time to file its schedules of assets and liabilities, the schedules of current income and expenditures, schedules of executory contracts and unexpired leases, statements of financial affairs and reports, according to a motion filed with the U.S. Bankruptcy Court for the Southern District of Texas.

The company has lost more employees post-petition than anticipated, including in the accounting, treasury and operational departments.

The implementation of a non-insider key employee retention program is supposed to help attrition going forward.

Additionally, another key employee contracted Covid-19 and was unable to assist with preparing the schedules and statements while ill.

The motion also stated that numerous vendor stay violations and utility service disconnections “required the emergent expenditure of significant time” by the debtors’ employees and professionals.

The debtors propose a June 19 deadline to file.

The Alpharetta, Ga.-based fuel distributor filed Chapter 11 bankruptcy on March 18 under case number 23-90147.

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