I found this in the MERUELO MADDUX PROPERTIES, INC DEBTOR-IN-POSSESSION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
March 31, 2009
We have the exclusive right to file a Chapter 11 plan or plans prior to November 22, 2009 and the exclusive right to solicit and obtain acceptances thereof until January 21, 2010. Pursuant to Section 1121 of the Bankruptcy Code, the exclusivity periods may be expanded or reduced by the Bankruptcy Court, but in no event can the exclusivity periods to file and solicit acceptance of a plan or plans of reorganization be extended beyond 18 months and 20 months from the petition date, respectively.
This is the code:
11 U.S.C. §§ 1121. The disclosure statement is a document that must contain information concerning the assets, liabilities, and business affairs of the debtor sufficient to enable a creditor to make an informed judgment about the debtor's plan of reorganization
Can't be a coincidence that they're soliciting BK acceptances from creditors until 1-21-2010 and then the stock takes off today. I'd say this is good news.
