AMR Corp. has asked Bankruptcy Judge Sean Lane for another extension, this one to May 29, allowing the parent of American Airlines more time to submit a reorganization plan in its Chapter 11 bankruptcy proceeding.
A hearing on the motion, filed Wednesday, is set for March 27 in Lane's New York City court. That's the same day Lane is already scheduled to hear the company's request that he approve its proposed merger agreement with US Airways.Under AMR's ongoing bankruptcy case, it enjoyed an initial "exclusivity period" of 120 days after filing its Chapter 11 petition on Nov. 29, 2011. During that period, only it could file a plan of reorganization.Lane has granted each of the company's five previous requests for extension. The current exclusivity period is set to expire April 15.While that's after the March 27 hearing before Lane on the merger plan, AMR said in its filing that another extension would allow the merger to be "achieved in an orderly and efficient manner."The filing, joined by the company's unsecured creditors committee, argues that the company's bankruptcy proceeding is complex but is progressing toward a resolution.There's little doubt AMR case is complex. Wednesday's motion seeking the extension was the 7,077th filing in the matter.According to the filing, the unsecured creditors committee "fully supports the merger" and is expected to collaborate with the company in the merger plan. It said a group of other large AMR creditors also has agreed to support that plan.Jim Fuquay, 817-390-7552Twitter: @jimfuquayHave more to add? News tip? Tell us
