Shipper Marco Polo Gets More Time To File Ch. 11 Plan

Law360, New York (April 30, 2012, 1:49 PM EDT) -- Marco Polo Seatrade BV on Friday won permission in New York bankruptcy court to delay filing its Chapter 11 reorganization plan, despite some banks' earlier complaints that the bankrupt Dutch shipping company has delayed for strategic purposes.

U.S. Bankruptcy Judge James M. Peck issued an order extending Marco Polo's exclusive period to file a plan until May 17, saying the extension makes sense for the bankrupt shipper.

“The relief requested in the motion is in the best interests of the debtors' estates, their creditors, and other...
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