Kaiser granted court OK to extend DIP maturity to May 11

By Caroline Salls

Pittsburgh, Feb. 1 - Kaiser Aluminum Corp. obtained 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 has no assurance that its plan of reorganization will become effective or that it will emerge from bankruptcy by Feb. 11.

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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