Mountain Express Oil eyes lengthy extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., July 13 – Mountain Express Oil Co. is seeking a 120-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, the company asked the court to extend the exclusive plan filing period through Nov. 14 and the exclusive solicitation period through Jan. 12.

The company asked that the extension not apply to First Horizon Bank as administrative agent and debtor-in-possession agent, provided that if the agent files a Chapter 11 plan that is not supported by the official committee of unsecured creditors, the committee may file a competing plan and the court will hold a hearing to determine which plan may be solicited.

The company said that since starting the cases, the debtors’ efforts have been focused on addressing myriad “self-help” issues undertaken by certain creditors, addressing numerous utility shut-off demands, reconciling the debtors’ books and records and preparing the debtors’ schedules of assets and liabilities, and engaging in an ongoing and comprehensive sale and marketing process for substantially all of the debtors’ assets.

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

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