On May 8, 2012, the Debtor filed a Motion to Extend Time to Assume or Reject Unexpired Leases of Nonresidential Real Property pursuant to 11 U.S.C. § 365(d)(4)(B)(i). The Debtor filed this Motion for the purposes of allowing more time to attempt to sell those leaseholds of deep oil and gas rights that it currently holds. A hearing on this Motion has been scheduled for June 21, 2012 at 10:00a.m., in the Erie Bankruptcy Court, 17 South Park Row, Erie, PA, with responses due June 14, 2012.
In addition, the Debtor also filed a Motion to Extend Exclusive Period to File a Plan and Disclosure Statement pursuant to 11 U.S.C. § 1121(d). To the extent that the Debtor is attempting to sell its leasehold rights, in addition to other assets, for the purposes of formulating and funding a plan to pay its creditors, it now seeks more time during which to accomplish that before it must submit a plan to the Bankruptcy Court. This Motion has also been scheduled for hearing on June 21, 2012 at 10:00a.m., with responses due June 14, 2012.
