period of exclusivity
period of exclusivity
a debtor in Chapter 11 has the exclusive right to file a plan of reorganization for the first 120 days of its bankruptcy. Thereafter, unless the period of exclusivity is extended by the court, other parties may file reorganization plans.
(see exclusivity) (Glossary of Common Bankruptcy Terms)

In Chapter 11, for 120 days after the filing of the petition, the debtor has the exclusive right to file a plan of reorganization. The time may be extended or shortened by the court. During this period, parties who wish to file competing plans must convince the court to terminate the debtor's exclusivity period. If a trustee is appointed, the exclusivity period is terminated. (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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