Metalforming requests 90-day exclusivity extensions to continue negotiations

By Caroline Salls

Pittsburgh, Feb. 10 - Metalforming Technologies, Inc. requested 90-day extensions 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 Delaware.

The company wants to extend its exclusive plan filing period to May 12 from Feb. 11 and the solicitation period to July 11 from May 12.

According to the motion, the extensions are necessary to negotiate and finalize a consensual plan. The company said it is currently negotiating to resolve objections to its disclosure statement and negotiating with pre-bankruptcy lenders and its official committee of unsecured creditors.

A hearing is scheduled for March 6.

Metalforming, a Chicago-based automobile parts manufacturer, filed for bankruptcy on June 16, 2005. Its Chapter 11 case number is 05-11697.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.