Mercantile Bancorp to use second exclusivity extension to present plan

By Caroline Salls

Pittsburgh, Jan. 29 - Mercantile Bancorp, Inc. obtained a second extension of its exclusive plan of liquidation filing and vote solicitation periods, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive filing period was extended to Feb. 24 from Dec. 24 and the solicitation period to April 25 from Feb. 24.

Mercantile said it was focused until recently on fulfilling the contingencies needed to close its asset sale, as completion of the sale was necessary for its to present a confirmable Chapter 11 plan.

Since the sale has now been completed, the company said it expects the extension to allow it to present a confirmable plan.

Mercantile Bancorp, a Quincy, Ill., bank holding company, filed for bankruptcy on June 27, 2013. The Chapter 11 case number is 13-11634.

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