Free Lance-Star asks for 75-day exclusivity extension to close sale

By Kali Hays

New York, May 21 - Free Lance-Star Publishing Co. is seeking a 75-day extension of its exclusive plan of reorganization filing and solicitation periods, according to a Tuesday motion with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The company asked that its exclusive filing period be extended through Aug. 6 from May 23 and its solicitation period through Oct. 6 from July 2.

After the anticipated June 20 closing of the sale of its operating assets and tower assets, the company would like to "discuss in detail with the Office of the United States Trustee and the committee the appropriate mechanism for the continued administration and ultimate conclusion of these cases," according to the motion.

The company also requested that the court prohibit any other party from filing a competing plan during the extended exclusive periods.

Free Lance-Star, a Fredericksburg, Va.-based publishing, newspaper, radio and communications company, filed bankruptcy on Jan. 23. The Chapter 11 case number is 14-30315.

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