23.12.2012

Ahern gets more time…..again

A U.S. district judge has approved a stay motion, suspending a previous court ruling that ended Don Ahern's period of exclusivity under the Chapter 11 bankruptcy process.

The motion was granted on Friday by Reno based judge Larry Hicks, pending an appeal against the bankruptcy court’s ruling, made on December 7th. The judge said that he felt that the relief requested by the stay motion is in the best interest of the debtors’ estates and creditors. Click here to see Ahern loses control of chapter 11 process – December 8th

The December 7th ruling had opened up the reorganisation process to other parties, but this latest move will mean that any plans that have been submitted or are about to be submitted are invalid – at least for the moment.

No dates have been given yet for the appeal hearing. In the meantime Ahern continues to negotiate with creditors, while business continues to improve.
Click here to see Ahern gets more time – August 8th