Former Magic Brands granted extension of exclusive plan periods

By Caroline Salls

Pittsburgh, Nov. 16 - Deel, LLC, formerly Fuddruckers, Inc. parent Magic Brands, LLC, received a second extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to Jan. 18 from Nov. 17 and the solicitation period to March 21 from Jan. 18.

Deel requested the extension in order to pursue an orderly wind-down of its Chapter 11 cases following the sale of substantially all of the company's assets on July 26.

According to the order, Deel's official committee of unsecured creditors will have the right to file a competing plan beginning on Jan. 19.

Magic Brands filed for bankruptcy on April 21, 2010 in the U.S. Bankruptcy Court for the District of Delaware. Its case number is 10-11310.

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