Allied Holdings granted two-month exclusivity extension in connection with Yucaipa stipulation

By Caroline Salls

Pittsburgh, Feb. 26 - Allied Holdings, Inc. obtained a sixth extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the Northern District of Georgia.

The company's exclusive plan-filing period was extended to April 25 from Feb. 26 and the solicitation period to June 21 from April 24.

Allied reached a stipulation that allows it to proceed under this exclusivity period if it supports a joint plan with Yucaipa and the Teamsters.

If the company decides not to support the joint plan, the exclusivity period will terminate on March 2.

Allied, a Decatur, Ga., distributor of new and used vehicles, filed for bankruptcy on Aug. 1, 2005. Its Chapter 11 case number is 05-12515.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.