Powermate requests additional four-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., March 11 - Powermate Holding Corp. requested a third extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend the exclusive plan-filing period to July 10 from March 12 and the solicitation period to Sept. 10 from May 12.

Powermate said since filing its prior request to extend exclusivity, the company has primarily been focused on disputes with the Lowe's Cos., Home Depot and PBGC and has not had time to begin the Chapter 11 plan process.

A hearing is scheduled for April 16.

Powermate, an Aurora, Ill.-based manufacturer of portable and standby electric generators, air compressors, air tools, pressure washers and accessories, filed for bankruptcy on March 17, 2008. Its Chapter 11 case number is 08-10498.

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