Judge Gives LID More Time To Decide On Leases

Law360, New York (July 23, 2007, 12:00 AM EDT) -- A bankruptcy court has allowed diamond jewelry wholesaler LID Ltd. an extra 90 days to decide whether to keep its lease on its real property, but left the company's motion to extend its exclusivity period hanging.

LID asked the bankruptcy court for an extra 160 days to file its reorganization plan free of competing plans on June 28, three months after the company slipped into Chapter 11.

In another motion filed the same day, it asked for more time to decide on what it would do...
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