Ultimate Escapes Holdings asks court for third exclusivity extension

By Lisa Kerner

Charlotte, N.C., July 18 - Ultimate Escapes Holdings, LLC is seeking another extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period by 91 days to Oct. 17 from July 18 and its solicitation period by 90 days to Dec. 14 from Sept. 15.

A hearing is set for Aug. 24.

The debtors are asking for additional time in order to move forward with seeking approval of their disclosure statement and confirmation of their plan without the disruption that could be caused by the filing of a competing plan by a non-debtor party, the filing said.

On June 29, the debtors filed a liquidating plan and related disclosure statement. A hearing on the disclosure statement is also set for Aug. 24.

Previously, the court extended the company's exclusive filing period to July 18 from April 18, and to April 18 from Jan. 18; and the company's solicitation period to Sept. 15 from June 17, and to June 17 from March 19.

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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