Kimball Hill asks court to extend exclusivity through 'critical juncture'

By Jennifer Lanning Drey

Portland, Ore., Dec. 31 - Kimball Hill, Inc. requested a three-month 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 company wants to extend the exclusive plan-filing period to April 16 from Jan. 16 and the solicitation period to June 16, 2009 from March 16.

"The debtors believe they must maintain their exclusive rights during this critical juncture to preserve the stability of these cases," Kimball Hill said in the filing.

Kimball Hill has filed its disclosure statement and expects to receive approval for the document in mid-January. The company expects the confirmation hearing will be scheduled for mid-March.

A hearing has been scheduled for Jan. 13.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.