Creditors Look To Nix Excel Maritime's Control In Ch. 11

Law360, New York (August 5, 2013, 6:39 PM EDT) -- Creditors of Excel Maritime Carriers Ltd. on Friday asked a New York bankruptcy judge to terminate the shipping company’s exclusive 120-day period to file a Chapter 11 plan so that a rival plan can be submitted, once again voicing its dismay over the current proposal.

The official committee of unsecured creditors argued in court papers that while it is unusual to request that a debtor’s exclusivity period be cut off, Excel’s pre-negotiated plan is unique — and it is in the best interest of the estate...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Excel Maritime Carriers Ltd., et al.


Case Number

7:13-bk-23060

Court

New York Southern

Nature of Suit

Date Filed

July 1, 2013

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.