Ultimate Escapes wants additional time to formulate consensual plan

By Lisa Kerner

Charlotte, N.C., April 13 - Ultimate Escapes Holdings, LLC is seeking another extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to an April 13 filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period to July 18 from April 18 and its solicitation period to Sept. 15 from June 17.

A hearing is set for May 19.

The company needs additional time to work with its creditors committee to finalize the terms of a consensual Chapter 11 plan, the filing said.

Previously, the court extended the company's exclusive filing period to April 18 from Jan. 18 and the solicitation period to June 17 from March 19.

Ultimate Escapes, a Kissimmee, Fla.-based destination club operator, filed for bankruptcy on Sept. 20. The Chapter 11 case number is 10-12915.

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