District Judge Dismisses Ahern's Appeal, Vacates Stay Order

The United States District Court Judge Larry R. Hicks dismissed Ahern's appeal and vacated his stay order entered on December 21, 2012, which stayed an order entered by Bankruptcy Judge Bruce T. Beasley refusing to extend the company's exclusive right to file a plan of reorganization.

Howard Brown, chief financial offer for Ahern, stated, "Needless to say, we are very disappointed in the ruling by Judge Hicks and immediately filed an appeal with the Ninth Circuit Court of Appeals."

For more about Ahern's bankruptcy case...