Centaur looks to extend exclusive solicitation period to complete mediation

By Jennifer Lanning Drey

Portland, Ore., June 25 - Centaur, LLC requested an extension to its exclusive period to solicit votes on its plan of reorganization, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Centaur wants to extend the exclusive solicitation period to Sept. 30. The exclusive plan-solicitation period is currently set to expire on Sept. 2 for the Centaur debtors and on June 25 for its Valley View Downs debtor entities.

Centaur filed the disclosure statement for its plan of reorganization on May 7. However, the hearing for approval of the disclosure statement was postponed multiple times after the company's official committee of unsecured creditors and pre-bankruptcy first- and second-lien lenders objected to the plan.

Most recently, the hearing for approval of the disclosure statement was postponed from June 22 and mediation was scheduled.

Centaur said an extension to its exclusive plan-solicitation period would allow the company to fully complete the mediation and further negotiate with its creditor constituencies.

A hearing is scheduled for July 28.

Centaur, an Indiana-based gaming and horseracing company, filed for bankruptcy on March 6. The Chapter 11 case number is 10-10799.

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