In Re Southwest Oil Co. of Jourdanton, Inc.

MEMORANDUM OPINION

R. GLEN AYERS, Jr., Chief Judge.

I. Introduction

These interrelated debtors filed petitions under Chapter 11 of the Bankruptcy Code, on March 30, 1987. Their exclusive right to file plans, as provided by 11 U.S.C. § 1121(b) would have expired on July 28. Being unable to submit plans of reorganization, the debtors filed motions for extension on July 16, 1987. 11 U.S.C. § 1121(d). The motions sought to extend the exclusivity deadline until November 25, 1987. On July 30, 1987, several creditors filed responses objecting to the requested extensions, and the Motions were set down…