Kaiser gets extension to waiver for post-Chapter 11 lenders

By Jeff Pines

Washington, July 14 - Kaiser Aluminum Corp. obtained approval of extension to a waiver giving its post Chapter 11 filing lenders liens on certain proceeds from the sale of its Alumina Partners of Jamaica interests.

The U.S. Bankruptcy Court for the District of Delaware also approved payment of a waiver fee.

Kaiser obtained $315 million for the sale of its 65% stake in the Alumina Partners.

Kaiser filed for bankruptcy on Feb. 12, 2002. The Chapter 11 case number for the aluminum company is 02-10429.

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