Revel AC looks to extend exclusive plan voting period through June 30

By Caroline Salls

Pittsburgh, March 31 – Revel AC, Inc. is seeking an extension of its exclusive period for soliciting votes on a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the District of New Jersey.

The company wants to extend the exclusive voting period through June 30 from April 30.

According to the motion, Revel is working to obtain court approval of the sale of substantially all of its assets to Polo North Country Club, Inc. under an amended asset purchase agreement.

As a result, the company said the solicitation period extension is needed to allow it to negotiate, solicit and confirm a plan.

A hearing is scheduled for April 20. The company’s disclosure statement hearing has also been adjourned to April 20.

Revel, an Atlantic City, N.J.-based gaming and entertainment company, filed for bankruptcy on June 19, 2014. The Chapter 11 case number is 14-22654.

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