The hearing on extending the exclusivity period for Ahern Rentals has been rescheduled for Oct. 31, according to reports. At that time, the court will discuss Ahern’s request to extend the exclusivity period of its bankruptcy reorganization through November.
During the period of exclusivity only the debtor may present a plan for debt reorganization.
The standard period given for exclusivity is 120 days, but this period has been extended twice in the Ahern case and will continue until the judge makes a ruling on Ahern’s request for an extension. Several Ahern creditors have objected to the extensions, reports say. Ahern lawyers filed a response to the latest set of creditor objections. In a filing this week, Ahern’s law firm, Gordon Silver, made a point-by-point response, which included a complaint about the noteholder’s overly broad and costly requests for financial information.
During the Oct. 31 hearing, Bruce Beesley, the bankruptcy judge in the case, also may rule on issues regarding the settlement of two civil cases against Ahern Rentals.
Ahern Rentals, based in Las Vegas, filed for bankruptcy on Dec. 22, 2011.