Las Vegas-based Ahern Rentals Inc. lost control of its attempt to escape Chapter 11 bankruptcy as a judge opened the door for outsiders to submit reorganization plans.
During a hearing in Reno, U.S. Bankruptcy Court Judge Bruce Beesley ended the legal protection known as exclusivity, during which only the bankrupt company can propose a plan. Ahern has enjoyed exclusivity since it filed its Chapter 11 last December, but Beesley said he saw no progress in resolving flashpoints between the company and its creditors.
