K-V Pharmaceutical seeks 90-day extension of exclusive plan periods

By Caroline Salls

Pittsburgh, Oct. 26 - K-V Pharmaceutical Co. is seeking a 90-day extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive filing period to March 4 from Dec. 3 and the solicitation period to May 2, 2013 from Jan. 31.

Because of "pressing matters" that arose during the first few months of the case, K-V said it has not had time to negotiate a Chapter 11 plan.

The company said it has begun talks with various constituents on the structure and terms of a potential plan.

A hearing is scheduled for Nov. 14.

K-V Pharmaceutical, a St. Louis specialty pharmaceutical company, filed for bankruptcy on Aug. 4 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 12-13346.

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