K-V Pharmaceutical seeks 120-day extension of plan exclusive periods

By Jim Witters

Wilmington, Del., Jan. 10 - K-V Pharmaceutical Co. is seeking extensions of its exclusive periods for filing a Chapter 11 plan and for soliciting plan votes, according to documents filed Jan. 9 with the U.S. Bankruptcy Court for the Southern District of New York.

The company says it needs the additional time to continue negotiations toward a fully consensual plan.

The exclusive period for filing a Chapter 11 plan would be extended to June 17 from Feb. 4. The exclusive period for soliciting votes on the plan would be extended to July 16 from April 5.

The debtors filed a proposed joint Chapter 11 plan on Jan. 7.

The debtor-in-possession financing facility requires approval of a disclosure statement on or before March 23.

A hearing on the request for an extension is scheduled for 11 a.m. ET on Jan. 23.

K-V Pharmaceutical, a St. Louis-based specialty pharmaceutical company, filed for bankruptcy on Aug. 4. Its Chapter 11 case number is 12-13346.

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