ILX Resorts requests three-month exclusivity extension to finish plan

By Caroline Salls

Pittsburgh, July 23 - ILX Resorts Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Arizona.

Specifically, the company asked the court to extend its exclusive filing period by 90 days to Nov. 15 and the solicitation period to Jan. 15.

Given the number and nature of its assets, ILX said formulation of a plan of reorganization has proven to be a complex and time-consuming process.

However, the company said it is nearing completion of its plan.

Phoenix-based ILX Resorts acquires, develops and operates timeshare resorts primarily in the western United States. The company filed for bankruptcy on March 2. Its Chapter 11 case number is 09-03594.

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