Global Motorsport seeks exclusivity extension to finalize negotiated plan

By Caroline Salls

Pittsburgh, March 31 - Global Motorsport Group, Inc. is seeking 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.

Specifically, the company is asking the court to extend its exclusive plan-filing period to July 31 from March 30 and the solicitation period to Sept. 30 from May 29.

According to the motion, Global Motorsport has reached an agreement with its official committee of unsecured creditors and secured lenders on the essential terms of a plan.

The company said the extension will allow it to finalize the negotiated plan and the disclosure statement.

A hearing is scheduled for May 12.

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.

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