AMR Corp. asked Bankruptcy Judge Sean Lane for another extension, this one to May 29, of the period in which only the company is allowed to submit a reorganization plan. A hearing on the motion is set for March 27 in Lane’s New York City court.
Under AMR’s ongoing Chapter 11 bankruptcy case, it enjoyed an “exclusivity period” of 120 days after filing its petition on Nov. 29, 2011. During that period, only it could file a plan or reorganization. Lane has granted the company’s numerous requests to extend that period, and the most recent was set to expire April 15.In Wednesday's filing, AMR said the extension is needed “to formulate, negotiate and propose a Chapter 11 plan that implements the merger” the company has agreed to make with US Airways Group. The filings argues that the company’s bankruptcy proceeding is complex and it is making progress toward a resolution.
-- Jim Fuquay