Ultimate Escapes granted exclusivity extension to finalize plan terms

By Caroline Salls

Pittsburgh, May 10 - Ultimate Escapes Holdings, LLC received 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 District of Delaware.

Ultimate Escapes' exclusive filing period was extended to July 18 from April 18 and its solicitation period to Sept. 15 from June 17.

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

Ultimate Escapes, a Kissimmee, Fla.-based destination club operator, filed for bankruptcy on Sept. 20, 2010. The Chapter 11 case number is 10-12915.

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