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GENERAL42067
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Last modified
8/24/2016 8:10:34 PM
Creation date
11/23/2007 11:34:37 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1977376
IBM Index Class Name
General Documents
Doc Name
MEMORANDUM OF LAW IN SUPPORT OF MOTION FOR ORDER EXTENDING DEBTORS EXCLUSIVE PERIODS TO FILE PLANS
Media Type
D
Archive
No
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t <br />i <br />§ 1121 also makes c:Lear that the bankrupts; court is given bread <br />flev.i.'~,ility in dete_'-.nining whether there is "cause" to extend the <br />exclusive pericds. See H.R. Rep. No. 95-595, 95th Cong., 2d <br />Sess. 221-222 (1978); see also First American Bank v. Southwest <br />Glcves, supra, 6: Bankr. at 965; In re Public Service Co. of Ne:a <br />Ha-.nshire, suns, 88 Hankr. at 534. <br />In exercising their discretion, bankruptcy cour~s have <br />ar.alvzed a nu-ber cf factors in determining whether cause exists <br />for an extensicn of the Exclusive Periods. Each of these fasters <br />by itself may cons;:itute cause for extending the Exclusive <br />Pericds. These factors include: (1) the time that has ?lansed <br />since the filing of. the petition; (2) the size and comol=_xity cf <br />th~a case; (3) the debtor's progress in resclving issues facing <br />tha estate; (4) the debtor's motive in recuesting the extension; <br />(5) the possibility that an extension of time will harm the <br />creditors; and {6) the debtor's prospects for filing a viable <br />plan if the extension is granted. See, e~Q., In re RCPT II, <br />suor=_, llo Bankr. at 464; In re Gibson & Cushman Dredging, supra, <br />1C1 Bankr, at 409; In re Perkins, 71 Bankr. 294, 298 {W.D. Tenn. <br />1987); In re Grossinaer's Associates, 116 Bankr. 34, 36 (Bankr. <br />S.D.fd.Y. 1990; In re Nicolet, Inc., 80 Bankr. 733, 741-•42 (Bankr. <br />E.D. ra. 198~i; Iri .e Texaco, sup a, 76 Bankr. at 326-27; In re <br />M.<:Lean Industries, Inc., 87 Bankr. 830, 833-34 (Bankr. S.D.N.Y. <br />1987); In re Southwest Oil Co. of Jourdanton, Inc., 84 3ankr. <br />~~,~, 451-54 (Bankr. W.D. Tex. 1987). Each of the factors set <br />forth above supports the Moticn to extend the Exclusive Periods. <br />4 <br />
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