Marco Polo Seatrade eyes 60-day extension to exclusive filing period

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Marco Polo Seatrade BV requested an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Nov. 1 filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive filing period to Jan. 17 from Nov. 28 and the solicitation period to March 18 from Jan. 27.

A hearing is set for Nov. 22.

The debtors are "focusing their efforts on their plan of reorganization and moving the business forward" now that they have access to cash collateral and debtor-in-possession financing and now that the senior lenders' dismissal and lift stay motions are behind them, the filing said.

Marco Polo Seatrade, an Amsterdam-based vessel owner, filed for bankruptcy on July 29. The Chapter 11 case number is 11-13634.

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