Neumann Homes requests five-month exclusivity extension

By Caroline Salls

Pittsburgh, July 1 - Neumann Homes, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Northern District of Illinois.

The company wants to extend its exclusive plan-filing period to Dec. 31 from July 31 and the solicitation period to March 31, 2009 from Oct. 31.

Neumann said it will be in a better position to file a plan after it disposes of some of its developed properties and completes the marketing and sale of some of its undeveloped properties.

A hearing is scheduled for July 16.

Neumann Homes, a Warrenville, Ill.-based homebuilder, filed for bankruptcy on Nov. 1, 2007. Its Chapter 11 case number is 07-20412.

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