Constar cites sale process in request of 90-day exclusivity extension

By Kali Hays

New York, April 9 - Constar International Holdings, LLC requested a 90-day extension of its exclusive plan of reorganization filing and acceptance periods, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company asked that its exclusive filing period be extended through July 17 from April 18 and its acceptance period through Sept. 15 from June 17.

The company is seeking the extra time because it has faced "various complex and time-consuming issues, including negotiations with multiple parties with competing interests and four different sales processes that have required the full focus of the debtors and their professionals," the filing stated.

A hearing is scheduled for May 19.

Constar, a Trevose, Pa.-based maker of polyethylene terephthalate food and beverage containers, filed for bankruptcy on Dec. 19. The Chapter 11 case number is 13-13281.

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