Marcal Papers exclusive periods cut by one month

By Caroline Salls

Pittsburgh, March 19 - Marcal Papers, Inc.'s exclusivity extension order was amended Monday to shorten the company's exclusive periods to file a plan of reorganization and solicit votes on the plan by one month, according to a filing with the U.S. Bankruptcy Court for the District of New Jersey.

On Friday, the court extended Marcal's exclusive plan-filing period to July 30 from March 30 and the solicitation period to Sept. 26, 2007 from May 29.

However, under the amended order, the plan-filing period will expire on June 28 and the solicitation period on Aug. 27.

Monday's order said the previous extension was entered in error.

According to the motion for the exclusivity extension, 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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