Metex Mfg. wins court approval of four-month exclusivity extension

By Caroline Salls

Pittsburgh, May 14 - Metex Mfg. Corp. obtained an extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive plan-filing period was extended through Sept. 16 from May 15 and the solicitation period through Nov. 15 from July 15.

According to the motion, Metex's official committee of unsecured creditors was formed later than it expected, and a future claimants' representative (FCR) was not appointed until six weeks after the bankruptcy case was filed.

"The debtor seeks an extension of the exclusive period to preserve and build upon the progress made to date and to allow the committee and the FCR sufficient opportunity to complete due diligence before negotiating plan terms with the debtor," the motion said.

This is the company's second exclusivity extension.

Metex, a Great Neck, N.Y.-based tile manufacturer, filed for bankruptcy on Nov. 9. Its Chapter 11 case number is 12-14554.

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