Majestic Capital wins exclusivity extension to consult with creditors

By Caroline Salls

Pittsburgh, Nov. 16 - Majestic Capital, Ltd. obtained an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive filing period was extended to Nov. 18 from Oct. 28 and the exclusive solicitation period to Jan. 18 from Dec. 28.

According to the motion, Majestic needs the extra time to consult with the creditors committee regarding its plan of reorganization.

Majestic Capital, a Bermuda-based specialty provider of workers' compensation insurance, filed for bankruptcy on April 29, 2011. The Chapter 11 case number is 11-36225.

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