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<br />r <br />Service Ccapany,~ each as debtor and debtor in pcssessicn <br />(individually and collectively, "Debtors"), by their counsel, <br />LeBce'.:=, La-:b, Leiby & MacRae, hereby sub-:it this memcrandu:~ of <br />la_:~ in support of their motion filed concurrently herewith (the <br />":~?c tic^") fcr Grder (a) extending from March 7, 1991 to July 5, <br />1991 t'.:e exclusive period for the filing of Debtors' plain or <br />plans cf reorganization ("Exclusive Filing Period"), an~i (b) <br />e:ctenc_.ng from May 6, 1991 to September 3, 1991 the exclusive <br />pericd fcr Debtors' obtaining acceptances of the'_r plan or plans <br />o` recrcanization filed within the Exclusive Filing Period <br />("Exc_usive Acceptance Period"). <br />I. ARGUMENT <br />THE COURT SHOULD EXTEND THE E}:CLUSIVE PERIODS <br />A. The Standard for Extension of the Exclusive Periods. <br />Pursuant to 11 U.S.C. § 1121(b), a debtor has the exclusive right <br />to file a plan of reorganization during the 120 days following <br />cor,~:.encement of its Chapter 11 case. If the debtor files a plan <br />during this period, the Bankruptcy Code grants the debtcr an <br />additicr.al sixty days in which to obtain acceptances of the plan <br />and prchibits other parties from filing a plan during this <br />addicicnal period. 11 U.S.C. § 1121(c)(3). Currently, the <br />E:rcclusive Filing Period expires on or about March 7, 1991, and <br />1. One of CF&I Steel 'Corporation's subsidiaries which filed a <br />ciZapter 11 petition and whose case is jointly administered with <br />t:Ze Debtors' cases, The Colorado and Wyoming Railway Conpany, is <br />not a tarty to this Motion because a trustee has been appointed <br />in that case as required by 11 L'.S.C. § 1_53. <br />2 <br />