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Kimball Hill asks for three-month exclusivity extension
By Jennifer Lanning Drey
Portland, Ore., Sept. 30 - Kimball Hill, Inc. requested a further 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 its exclusive plan-filing period to Jan. 16 from Oct. 20 and the solicitation period to March 16, 2009 from Dec. 19.
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.
A hearing has been scheduled for Oct. 14.
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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