Foothills Resources seeks OK of four-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., May 8 - Foothills Resources, Inc. requested a four-month extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Foothills wants to extend the exclusive plan-filing period by 120 days from June 11 and the solicitation period by 120 days from Aug. 10.

The company cited the size and complexity of its bankruptcy case as reasons for needing the additional time.

Foothills said its management initially focused on stabilizing the business and attending to the time-consuming demands that accompanied filing for bankruptcy.

Foothills Resources, a Bakersfield, Calif.-based energy company, filed for bankruptcy on Feb. 11. Its Chapter 11 case number is 09-10452.

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