Parking Co. of America seeks three-month exclusivity extension

By Lisa Kerner

Charlotte, N.C., May 28 - Parking Co. of America Airports, LLC requested a three-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

A hearing will be held on June 16.

The company wants to extend its exclusive plan filing period to Aug. 27 from May 28 and the solicitation period to Oct. 27 from July 27.

In the motion, Parking Co. said the extension would allow it to complete the sale of its assets to Commercial Finance Services 2907 Inc., the winning bidder at the April 27 auction.

The company also requested the extension out of an abundance of caution while it waits for its plan of liquidation to take effect. The plan was confirmed last week.

Parking Co. of America Airports, an Essington, Pa.-based off-site airport parking business, filed for bankruptcy on Jan. 28. Its Chapter 11 case number is 10-10250.

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