Crescent Oil requests additional two-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., July 20 - Crescent Oil Co., Inc. requested a two-month extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Kansas.

Crescent wants to extend the exclusive plan-filing period to Oct. 7 from Aug. 7 and the solicitation period to Dec. 9 from Oct. 7.

The company said the extra time is necessary for it to complete the process of selling substantially all of its assets. The auction for the assets is currently set for Aug. 4.

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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