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Crescent Oil requests exclusivity extension to complete asset sale
By Jennifer Lanning Drey
Portland, Ore., May 15 - Crescent Oil Co., Inc. requested a three-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Kansas.
Crescent wants to extend the exclusive plan-filing period to Sept. 7 from June 7 and the solicitation period to Nov. 9 from Aug. 7.
The company said it is in the process of selling substantially all of its assets and will not be finished before the expiration of the original exclusive periods.
Crescent Oil, an Independence, Kan.-based fuel distributor, filed for bankruptcy on Feb. 7. Its Chapter 11 case number is 09-20258.
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