Majestic Star seeks exclusivity extension to avoid competing plans

By Caroline Salls

Pittsburgh, Jan. 13 - The Majestic Star Casino, LLC is seeking an extension of 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 District of Delaware.

The company wants to extend its exclusive filing period to May 23 from Jan. 15 and the solicitation period to July 23, 2011 from March 15.

Majestic Star said it is "cautiously optimistic" that its disclosure statement will have been approved and its plan solicitation well underway by the hearing on the exclusivity extension.

However, since the exclusive filing period is set to expire on Saturday, the company said it is requesting the extension to safeguard its progress toward confirmation without any possibility of fights over competing plans.

A hearing is scheduled for Feb. 17.

Majestic Star, a Las Vegas-based owner and operator of casino hotels, filed for bankruptcy on Nov. 23, 2009. Its Chapter 11 case number is 09-14136.

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