Lionel Seeks Extension To Line Up Exit Financing

Law360, New York (December 18, 2007, 12:00 AM EST) -- A bankruptcy judge in Manhattan has signed off on a bridge order maintaining model-train-maker Lionel LLC's control of its Chapter 11 proceedings while the court considers whether to grant the company's seventh bid for an extension of its exclusive rights to file and lobby for support of a restructuring plan.

U.S. Bankruptcy Judge Burton R. Lifland entered a bridge order on Monday extending the debtors' exclusive rights until the court decides whether to grant Lionel's motion. The company submitted its motion on Monday, asking to have...
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