Momentive asks court for two-month extension of plan exclusive periods

By Kali Hays

New York, Aug. 4 – Momentive Performance Materials, Inc. is seeking a 60-day extension of its exclusive plan of reorganization filing and solicitation periods, according to a Monday motion with the U.S. Bankruptcy Court for the Southern District of New York.

The company asked that its exclusive filing period be extended through Oct. 10 from Aug. 11 and its solicitation period through Dec. 9 from Oct. 10.

Momentive has completed the solicitation of votes on the plan but is requesting the extension out of an abundance of caution to be sure it will have “an opportunity to confirm and consummate the plan, or if need be, a modified plan,” according to the motion.

A hearing is set for Aug. 18.

Momentive, a silicones and advanced materials company based in Albany, N.Y., filed for bankruptcy on April 13 in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 11 case number is 14-22503.

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