Leighton Gets 60 More Days Of Exclusive Control

Law360, New York (August 14, 2008, 12:00 AM EDT) -- The judge overseeing Fred Leighton Holding Inc.'s Chapter 11 proceedings has allowed the jewelry retailer to retain exclusive control of its reorganization for an extra 60 days while it tries to hash out a consensual restructuring plan with secured lender Merrill Lynch Capital Corp.

U.S. Bankruptcy Judge Robert D. Drain signed off Wednesday on an order extending Leighton's exclusive rights to file a Chapter 11 plan through Oct. 13, and its exclusive rights to lobby for acceptance of the plan through Dec. 12.

The order notes...
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