Marco Polo Seatrade gets additional time to file plan, solicit votes

By Lisa Kerner

Charlotte, N.C., Nov. 22 - Marco Polo Seatrade BV was granted an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The court extended Marco Polo Seatrade's exclusive filing period to Jan. 17 from Nov. 28 and its solicitation period to March 18 from Jan. 27.

The debtors, when requesting the extension, said they 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.

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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