Point Blank gets third extension to plan filing, soliciting periods

By Lisa Kerner

Charlotte, N.C., March 11 - Point Blank Solutions, Inc.'s request for a third extension to its exclusive periods to file and solicit votes on a plan of reorganization was granted, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The court extended Point Blank's exclusive filing period to June 9 from Feb. 9 and the solicitation period to Aug. 9 from April 11.

In December, Point Blank's exclusive period to file a plan of reorganization was extended to Feb. 9 from Oct. 12 and its exclusive period to solicit votes on the plan was extended to April 11 from Dec. 10.

As previously reported, the court also approved a related stipulation between the debtors, Point Blank's official committee of unsecured creditors and the official committee of equity security holders.

Point Blank's exclusivity will be held co-extensively with the committees, according to a prior court filing.

The creditors committee had objected to Point Blank's proposed exclusivity extension.

Point Blank, a Pompano Beach, Fla., producer of body armor systems for law enforcement and the military, filed for bankruptcy on April 14, 2010. Its Chapter 11 case number is 10-11255.

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