American Laser Wants More Time To File Ch. 11 Plan

Law360, New York (July 23, 2012, 12:36 PM EDT) -- Laser hair-removal chain American Laser Centers LLC asked a Delaware bankruptcy judge Friday for more time to exclusively file a reorganization plan, saying it had been distracted in recent months by its $40 million sale to a private equity lender.

American Laser said in a motion that it had not had time to negotiate a reorganization plan because it was focused on selling its assets to Versa Capital Management LLP. The deal, worth $39.5 million, won court approval Jan. 31 and closed a few days later....
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