Marcal Papers granted 120-day exclusivity extension

By Caroline Salls

Pittsburgh, March 16 - Marcal Papers, Inc. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of New Jersey.

The company's exclusive plan-filing period was extended to July 30 from March 30 and the solicitation period to Sept. 26, 2007 from May 29.

According to the motion, since the bankruptcy case was only about three months old when the exclusivity extension motion was filed, the company had not had time to develop a definitive plan for emerging from Chapter 11.

Marcal also cited the size and complexity of the case.

Marcal Paper Mills, an Elmwood Park, N.J., manufacturer and distributor of bath tissue, kitchen towels, napkins and facial tissue, filed for bankruptcy on Nov. 30. Its Chapter 11 case number is 06-21886.

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