Neumann Homes seeks exclusivity extension to sell developed properties

By Caroline Salls

Pittsburgh, Feb. 11 - Neumann Homes, Inc. requested an extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the Northern District of Illinois.

The company wants to extend its exclusive plan-filing period to July 31, 2008 from Feb. 29 and the solicitation period to Oct. 31, 2008 from April 29.

Neumann said it expects to be in a better position to file a liquidation plan after it completes negotiations and moves forward with the marketing and sale of developed properties that will help the company "create a path for the remainder of the Chapter 11 cases."

A hearing is scheduled for Feb. 20.

Neumann Homes, a Warrenville, Ill.-based homebuilder, filed for bankruptcy on Nov. 1. Its Chapter 11 case number is 07-20412.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.