Kimball Hill requests three-month exclusivity extension

By Caroline Salls

Pittsburgh, July 30 - Kimball Hill, Inc. is seeking 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.

Specifically, the company wants to extend its exclusive plan-filing period to Nov. 19 from Aug. 21 and the solicitation period to Jan. 19 from Oct. 20.

According to the motion, the company needs more time to continue negotiations with its senior secured pre-bankruptcy lenders and the official committee of unsecured creditors regarding the terms of a plan, as well as to complete the evaluation of its businesses and operations and assess some restructuring alternatives.

A hearing is scheduled for Aug. 12.

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

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