Trainor, which filed for Chapter 11 bankruptcy in March 2012, has filed a motion with the US Bankruptcy Court for the Northern District of Illinois asking for an extension of time to file its plan with the court.
Within the latest motion, Trainor officials note that they have “been working to liquidate [the company’s] assets and [have] been consulting and working with the committee [of unsecured creditors] and [creditor] First Midwest Bank to formulate a plan in this case.”
“The debtor intends to continue this process,” writes the company. “The debtor believes that an extension of its exclusive right to file a plan is in the best interest of all creditors and other parties in interest.”
Counsel for Trainor, which filed for Chapter 11 bankruptcy in March 2012, also point out that both the committee of unsecured creditors and First Midwest Bank, to which the company owed USD 34 million at the time of its bankruptcy filing, support the request for an extension of time.