Omega Navigation looks to continue exclusivity hearing to trial date

By Caroline Salls

Pittsburgh, Nov. 7 - Omega Navigation Enterprises, Inc. is asking the U.S. Bankruptcy Court for the Southern District of Texas to continue the hearing on approval of its proposed exclusivity extension to Nov. 28, according to a Monday court filing.

Nov.28 is also the day of the trial on Omega's senior lenders' motion to dismiss or convert its bankruptcy case.

In addition, the company asked the court to keep its plan filing and vote solicitation exclusivity intact until the hearing.

Because exclusivity extension objections and the dismissal/conversion motion both deal with Omega's rehabilitation prospects, the company said it would be forced to begin to present its entire case two weeks ahead of the scheduled trial if the exclusivity extension hearing is held on Nov. 14.

In addition, the company said the time and expense of a Nov. 14 exclusivity extension hearing will have been wasted if the dismissal motion is granted.

Omega Navigation is an Athens-based provider of marine transportation services. The company filed for bankruptcy on July 8. The Chapter 11 case number is 11-35926.

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