Former Pemco World seeks second extension of plan exclusive periods

By Jim Witters

Wilmington, Del., Oct. 31 - WAS Services, Inc., formerly Pemco World Air Services, Inc., is seeking a 60-day extension of its exclusive periods for filing a Chapter 11 plan and for soliciting plan acceptances, according to documents filed Oct. 31 with the U.S. Bankruptcy Court for the District of Delaware.

The company says it needs the additional time to wind down operations at its Dothan, Ala., plant.

Following the closing of its asset sale, the company worked to wind down its Dothan and Cincinnati facilities.

Operations at the Cincinnati facility have ceased, and WAS filed a motion to reject executory contracts association with the plant on Oct. 24.

The debtors concluded work at the Dothan facility on Oct. 19.

However, National Air Cargo Holdings Inc. refuses to pay for and take delivery of the aircraft at the Dothan facility, according to court documents.

If the request to extend the time is granted, the exclusive period for filing a Chapter 11 plan would be extended to Jan. 4 from Oct. 31. The exclusive period for soliciting plan acceptances would be extended to March 4 from Dec. 29.

A hearing on the request is scheduled for 10:30 a.m. ET on Dec. 12.

Tampa, Fla.-based Pemco performs large jet maintenance and repair services. It filed for bankruptcy on March 6, 2012 under Chapter 11 case number 12-10799.

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