Constar gets 120-day exclusivity extension out of caution; plan confirmation hearing set for May 20

By Lisa Kerner

Charlotte, N.C., April 20 - Constar International Inc. was granted more time to file and solicit votes on a plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The court extended Constar's exclusive filing period to Sept. 8 from May 11 and the solicitation period to Nov. 7 from July 11.

As previously reported, the debtors requested the extension "out of an abundance of caution" to preserve the exclusive periods. They expect their plan of reorganization to be confirmed on May 20.

Constar, a Philadelphia-based maker of polyethylene terephthalate food and beverage containers, filed for bankruptcy on Jan. 11 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 11-10109.

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