MMC Precision: longer exclusivity would allow committee to file plan

By Jennifer Lanning Drey

Portland, Ore., June 30 - MMC Precision Holdings Corp. requested a one-month extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend the exclusive plan-filing period to Aug. 22 from July 22 and the solicitation period to Oct. 22 from Sept. 22.

MMC said it has agreed to allow its official committee of unsecured creditors to draft its plan of liquidation and file it during the company's exclusive plan-filing period, which the company believes will be in the best interests of all parties.

However, the committee needs more time to gather information, formulate the plan and become more familiar with the case, MMC said.

A hearing is scheduled for July 21.

Morton, Ill.-based MMC manufactures highly engineered metal components and subassemblies. The company filed for bankruptcy on March 22. Its Chapter 11 case number is 09-10998.

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