Iridium seeks four-month exclusivity extension to await Motorola settlement appeal ruling

By Caroline Salls

Pittsburgh, May 24 - Iridium LLC requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive plan-filing period to Nov. 14 from July 14 and the solicitation period to Jan. 9, 2008 from Sept. 9.

According to the motion, discussions and negotiations on Iridium's proposed plan were suspended during sale negotiations and continue to be suspended pending the outcome of an appeal of a proposed settlement with former parent Motorola and the resolution of committee litigation.

Iridium owned and operated a global telecommunications system. The company filed for bankruptcy on Aug. 13, 1999. Its Chapter 11 case number is 99-45005.

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