First Mariner requests three-month extension of exclusivity periods

By Kali Hays

New York, May 21 - First Mariner Bancorp is seeking court approval of a 90-day extension of its exclusive plan of reorganization filing and solicitation periods, according to a Tuesday motion with the U.S. Bankruptcy Court for the District of Maryland.

The company asked that its exclusive filing period be extended through Sept. 8 from June 10 and its solicitation period through Nov. 7, 2014 from Aug. 9.

The sale of its wholly owned subsidiary, First Mariner Bank, and the related efforts to obtain final regulatory approval and closure of the sale have "consumed the first stage" of the company's Chapter 11 case, according to the motion.

First Mariner, the Baltimore-based holding company for 1st Mariner Bank, filed bankruptcy on Feb. 10. The Chapter 11 case number is 14-11952.

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