period of exclusivity

period of exclusivity
USA
period of exclusivity, Also known as exclusivity.
In a Chapter 11 bankruptcy, the debtor has the exclusive right during the first 120 days of its case to file a plan of reorganization. This period may be reduced or extended by the court for cause, but may only be extended to a maximum of 18 months after the date of the filing of the petition. Other parties may not propose competing plans until after expiration of the exclusivity period.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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