Laserfiche WebLink
Case 1:20-bk-12043 Doc 498 Filed 10/23/20 Entered 10/23/20 08:57:50 Desc Main <br />Document Page 3 of 5 <br />current Filing Exclusivity Period and Soliciting Exclusivity Period will expire on November 19, <br />2020 and January 18, 2021, respectively, absent further order of this Court. <br />5. Section 1121(d)(1) of the Bankruptcy Code permits this Court to extend a debtor's <br />exclusivity "for cause," subject to certain limitations not relevant here. Although the Bankruptcy <br />Code does not define the term "cause," the legislative history indicates the term should be viewed <br />flexibly "in order to allow the debtor to reach an agreement." H.R. Rep. No. 95, 95th Cong., 1st <br />Sess. 232 (1997); see also In re Amko Plastics, Inc., 197 B.R. 74, 77 (Bankr. S.D. Ohio 1996); <br />accord Gaines v. Perkins (In re Perkins), 71 B.R. 294, 297-98 (W.D. Tenn. 1987); Teachers Insur. <br />& Annuity Assoc. ofAm. v. Lake in the Woods (In re Lake in the Woods), 10 B.R. 338, 344-45 <br />(E.D. Mich. 1981); In re Ravenna Indus., Inc., 20 B.R. 886, 889 (Bankr. N.D. Ohio 1982); In re <br />Ames Dep't Stores Inc., 1991 WL 259036, at *3 (S.D.N.Y. Nov. 25, 1991) ("The purpose of the <br />Bankruptcy Code's exclusivity period is to allow the debtor flexibility to negotiate with its <br />creditors."). <br />6. The decision to extend exclusivity is fact -specific; courts examine several factors <br />to determine whether "cause" exists to extend the Exclusivity Periods. These factors include (a) <br />the size and complexity of the case, (b) the debtor's progress in resolving issues facing the estate, <br />and (c) whether an extension of time will harm the debtor's creditors. See, e.g., Amko Plastics, 197 <br />B.R. at 76-77; accord In re Gibson & Cushman Dredging Corp., 101 B.R. 405, 409-10 (E.D.N.Y. <br />1989); In re Serv. Merch. Co., Inc., 256 B.R. 744, 751-54 (Bankr. M.D. Tenn. 2000); In re Crescent <br />Mfg. Co., 122 B.R. 979, 982-83 (Bankr. N.D. Ohio 1990); In re Southwest Oil Co. ofJourdanton, <br />Inc., 84 B.R. 448, 451-54 (Bankr. W.D. Tex. 1987). <br />7. Under these standards, the "cause" required by 11 U.S.C. § 112l(d)(1) is present in <br />these Chapter 11 Cases. As this Court is aware, on September 4, 2020, this Court entered its <br />3 <br />