HomeBanc Mortgage seeks one-month exclusivity extension to finalize plan terms

By Caroline Salls

Pittsburgh, April 3 - HomeBanc Mortgage Corp. requested a second extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to May 7 from April 7 and the solicitation period to July 7 from June 4.

HomeBanc said it has been in plan negotiations with its lender and official committee of unsecured creditors over the past several months, and the company believes the parties are close to resolving all of the issues that will allow the company to file a consensual plan.

However, the company said it needs the extra time to finalize the plan terms.

A hearing is scheduled for May 6.

HomeBanc, an Atlanta-based mortgage banking business, filed for bankruptcy on Aug. 9, 2007. Its Chapter 11 case number is 07-11079.

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