Global Motorsport receives three-month exclusivity extension

By Caroline Salls

Pittsburgh, March 24 - Global Motorsport Group, Inc. received an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to March 30 from Dec. 29 and the solicitation period to May 29 from Feb. 27.

Global Motorsport has reached an agreement in principal with its committee of unsecured creditors and secured lender on the essential terms of the plan, and the parties are working on a term sheet to reflect those terms, according to the motion.

Global Motorsport, a Morgan Hill, Calif.-based wholesale distributor of aftermarket motorcycle parts and accessories, filed for bankruptcy on Jan. 31, 2008. Its Chapter 11 case number is 08-10192.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.