Meridian Automotive requests second 120-day exclusivity extension

By Caroline Salls

Pittsburgh, Nov. 28 - Meridian Automotive Systems Inc. requested a 120-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan filing period to April 21 from Dec. 22 and the solicitation period to June 20, 2006 from Feb. 20.

According to the motion, building on a business plan that was approved by creditors on Sept. 29, the company now intends to produce a term sheet for a plan of reorganization to be delivered to lenders and other creditor constituencies by Dec. 15.

The term sheet is expected to provide a framework for negotiations toward a confirmable plan of reorganization.

A hearing is scheduled for Dec. 8.

Meridian is a Dearborn, Mich., supplier of front and rear end modules, lighting, exterior composites, console modules, instrument panels and other interior systems to automobile and truck manufacturers.

Meridian filed for bankruptcy April 26, 2005. Its Chapter 11 case number is 05-11168.

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