Peabody Energy filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and seeking entry of a bridge order temporarily extending the exclusivity periods until the Court rules on any further motion of the Debtors to extend the exclusive period, which, if necessary, will be filed no later than November 1, 2016.
The motion explains, “Pursuant to the First Exclusivity Order, the Exclusive Filing Period currently expires on November 9, 2016, and the Exclusive Solicitation Period currently expires on January 9, 2017….No later than November 1, 2016 (which date is within the Exclusivity Periods), the Debtors may file a Second Extension Motion…requesting an extension of the Exclusivity Periods. The Case Management Order clearly provides that an order extending the Exclusivity Periods may be granted so long as the motion requesting such relief is filed prior to the expiration of the Exclusivity Periods. Out of an abundance of caution, however, the Debtors are hereby requesting that the Court enter a bridge order extending the Exclusivity Periods until the Court has ruled on any Second Extension Motion.”
The Court scheduled an October 18, 2016 hearing to consider the motion, with objections due by October 11, 2016.
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