Kimball Hill exclusivity extended by three months

By Jennifer Lanning Drey

Portland, Ore., Oct. 14 - Kimball Hill, Inc. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Northern District of Illinois.

The exclusive plan-filing period was extended to Jan. 16 from Oct. 20 and the solicitation period to March 16, 2009 from Dec. 19.

When requesting the extension, the company said it continues to search for a plan sponsor but the recent disruption within the financial institutions has created a major distraction for the homebuilding industry and parties of interest.

Kimball Hill, a Rolling Meadows, Ill.-based homebuilder, filed for bankruptcy on April 23, 2008. Its Chapter 11 case number is 08-10095.

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