Lake at Las Vegas requests exclusivity extension to resolve issues

By Jennifer Lanning Drey

Portland, Ore., June 1 - Lake at Las Vegas Joint Venture, LLC requested a fifth extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Nevada.

Lake at Las Vegas wants to extend its exclusive plan-filing period to June 30 from May 29 and the solicitation period to Aug. 28 from July 27.

The company said it has achieved broad consensus regarding most aspects of the plan. However, a handful of material issues have not yet been resolved by the major constituencies in the company's bankruptcy case.

According to the filing, the extension is supported by the company's official committee of unsecured creditors and lenders.

A hearing is scheduled for June 29.

Lake at Las Vegas Joint Venture LLC, a 3,592-acre master-planned residential and resort community, filed for bankruptcy on July 17, 2008. Its Chapter 11 case number is 08-17814.

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