Nellson Nutraceutical seeks exclusivity extension to complete lender negotiations, resolve valuation

By Caroline Salls

Pittsburgh, Jan. 12 - Nellson Nutraceutical, Inc. requested a 30-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan filing period to Feb. 14 from Jan. 15 and the solicitation period to April 15 from March 16.

According to the motion, the extension is necessary because of the unresolved status of the company's valuation trial and because lender settlement negotiations are ongoing.

A hearing is scheduled for Jan. 25.

Nellson, an Irwindale, Calif., nutrition bar and powder manufacturer, filed for bankruptcy on Jan. 28, 2006. Its Chapter 11 case number is 06-10072.

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