Kaiser Aluminum asks court to approve DIP maturity extension

By Caroline Salls

Pittsburgh, Jan. 12 - Kaiser Aluminum Corp. requested court approval to enter into an amendment to its debtor-in-possession revolving credit facility that extends the DIP's maturity to May 11 from Feb. 11, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, Kaiser expects the court to confirm its plan of reorganization within the next week, but the company has no assurance that the plan will become effective or that it will emerge from bankruptcy by Feb. 11.

A hearing is scheduled for Jan. 30.

Kaiser, a Houston-based aluminum company, filed for bankruptcy on Feb. 12, 2002. Its Chapter 11 case number is 02-10429.

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