Crescent Oil granted two-month exclusivity extension to review options

By Caroline Salls

Pittsburgh, Dec. 30 - Crescent Oil Co. Inc. received an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a filing with the U.S. Bankruptcy Court for the District of Kansas.

The company's exclusive filing period was extended to Feb. 9 from Dec. 9 and the solicitation period to April 9 from Feb. 9.

Crescent said it needs more time to determine how it wants to proceed with the bankruptcy case after its asset sale.

Crescent Oil, an Independence, Kan.-based fuel distributor, filed for bankruptcy on Feb. 7, 2009. Its Chapter 11 case number is 09-20258.

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