Kaiser Aluminum requests extension to exclusive periods to file plan, solicit votes

By Caroline Salls

Pittsburgh, June 30 - Kaiser Aluminum Corp. requested an extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive period to file a plan to Sept. 30 from June 30 and to solicit votes to Nov. 30 from Aug. 31.

Kaiser said the extension is necessary because of lengthy negotiations over treatment of asbestos and other tort claims.

Kaiser filed its plan of reorganization and disclosure statement Wednesday, but said negotiations on asbestos and tort claims are still ongoing.

According to the filing, Kaiser still plans to emerge from bankruptcy in the fourth quarter of this year.

A hearing is scheduled for Aug. 29.

Kaiser, a Houston-based aluminum company, filed for bankruptcy on Feb. 12, 2002 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 02-10429.

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