FormTech receives shorter-than-requested exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 26 - FormTech Industries, LLC obtained a shorter-than-requested extension to its exclusive period to file a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to Feb. 22 from Dec. 23. As previously reported, the company asked the court to extend the filing period to April 22.

FormTech's exclusive plan votes solicitation period has been extended to June 22 from Feb. 22, as requested in the motion.

The company said in the motion that it wanted the extension to avoid premature formulation of a plan.

FormTech is a Royal Oak, Mich., provider of forged metal components to the automotive light vehicle, heavy truck and industrial markets of North America. The company filed for bankruptcy on Aug. 26, and its Chapter 11 case number is 09-12964.

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