Allied Seeks Fifth Exclusivity Extension

Law360, New York (January 9, 2007, 12:00 AM EST) -- Hoping for more time to negotiate with the International Brotherhood of Teamsters union, Allied Holdings Inc. on Tuesday asked for bankruptcy court approval of a fifth extension of its exclusive period to file a Chapter 11 plan.

Allied asked to have until Feb. 23 to file a Chapter 11 reorganization plan, and until April 24 to solicit creditor support. The current deadlines are set for Jan. 17 and March 21.

A hearing on the matter has been scheduled for Jan. 25.

Checking a number of items...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.