Global Home Products granted 66-day exclusivity extension

By Caroline Salls

Pittsburgh, Sept. 7 - Global Home Products LLC obtained a 66-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to Oct. 9 from Aug. 3 and the solicitation period to Dec. 10 from Oct. 6.

Global Home said it is devoting a significant amount of time toward reaching agreements with key constituents on the terms of a consensual plan and it is analyzing administrative and reclamation claims.

As a result, the company said it needs more time to complete negotiations and to formulate a plan.

However, the company has agreed to provide its official committee of unsecured creditors with a draft of its plan of reorganization by Sept. 15 and a draft of the related disclosure statement by Sept. 30.

In exchange, the committee withdrew its objection to the exclusivity extension.

Global Home Products is a Westerville, Ohio-based designer, marketer and manufacturer of branded consumer and specialty products to retail and hospitality customers and original equipment manufacturers. The company filed for bankruptcy on April 10, 2006. Its Chapter 11 case number is 06-10430.

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