Metex granted extension of exclusivity periods to file, vote on plan

By Lisa Kerner

Charlotte, N.C., Jan. 31 - Metex Mfg. Corp. was granted a fourth extension of its exclusive periods for filing a Chapter 11 plan and soliciting votes on that plan by the U.S. Bankruptcy Court for the Southern District of New York, according to an attorney familiar with the case.

The court extended the exclusive plan-filing and solicitation periods to 110 days from Jan. 21 and March 20, respectively.

As previously reported, the company filed a plan on Dec. 23.

However, Metex said it believes, based on its experience with voting on an unsuccessful prepackaged plan, that an extension is necessary to ensure sufficient time to solicit, count and challenge, if necessary, votes on the plan, as well as to seek district court affirmation of the plan's supplemental injunction.

Metex, a Great Neck, N.Y.-based tile manufacturer, filed for bankruptcy on Nov. 9, 2012. Its Chapter 11 case number is 12-14554.

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