PTC Seamless seeks three-month extension of plan filing period

By Kali Hays

New York, July 17 – PTC Seamless Tube Corp. is seeking a 90-day extension of its exclusive Chapter 11 plan filing and solicitation periods, according to a Friday motion with the U.S. Bankruptcy Court for the Western District of Pennsylvania.

The company asked that its plan filing period be extended to Nov. 23 from Aug. 24 and its solicitation period to Jan. 19, 2016 from Oct. 22.

PTC said that an “analysis of its strategic business options remains ongoing” and that it needs additional time to negotiate a strategy “that may include filing a Chapter 11 plan of reorganization.”

“From the outset of this Chapter 11 case, the debtor has conveyed the message that it filed bankruptcy to provide a respite from creditors while charting its strategic business course,” the motion stated. “Nothing has changed.”

A hearing to consider the extension is set for Aug. 13.

PTC Seamless is a Wexford, Pa.-based steel tubing mill construction project that filed for bankruptcy on April 26. The Chapter 11 case number is 15-21445.

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