Atari Extends Control Over Ch. 11 Case For 30 Days

Law360, New York (August 22, 2013, 1:56 PM EDT) -- Atari Inc. on Wednesday received a New York bankruptcy judge’s approval to extend its control over its Chapter 11 case for 30 days after resolving an objection from creditors who argued that it’s time for an outside party to submit a reorganization plan.

U.S. Bankruptcy Judge James M. Peck signed off on the video game company’s compromise with the official committee of unsecured creditors that allows it until Sept. 20 to file an exit plan without the threat of rival plans being submitted. Atari had initially sought a 60-day extension that would expire Oct. 18.

The official committee of unsecured creditors...

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