Black Crow Asks For Another Extension To File Reorg Plan
June 30, 2010 at 4:24 AM (PT)
BLACK CROW MEDIA has moved again to ask for an extension of its exclusive period to file a chapter 11 reorganization plan. The motion, it's second request for an extension, asks for its exclusivity to be extended through NOVEMBER 8th and the time for solicitation of acceptances thereof extended through JANUARY 10, 2011.
BLACK CROW noted in its motion that GE CAPITAL, which has been challenging the proceedings, has been paid the full $1.88 million due due on account of what it called its "undisputed cash collateral," despite its opposition having delayed the closing of BLACK CROW's debtor-in-possession loan from PAUL STONE.
GE CAPITAL has also moved to dismiss its appeal of the final debtor-in-possession order, saying, "Because the DIP Loan has already closed, it is unlikely that GE CAPITAL will receive any meaningful relief on appeal."