Ormet gets extension to exclusivity periods

By Jeff Pines

Washington, May 20 - Ormet Corp. obtained extensions to its exclusivity periods, according to a Wednesday afternoon order filed with the U.S. Bankruptcy Court for the Southern District of Ohio.

It will now have exclusive right to file a reorganization plan until Sept. 24 and exclusive right to solicit votes until Nov. 24. The previous deadlines were May 28 and July 27.

Ormet, a Wheeling W. Va.-based aluminum products company, filed for bankruptcy after it failed to reach an agreement on restructuring its debt. Its Chapter 11 case number is 04-51255.

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