Savient seeks exclusivity extension to negotiate and implement plan

By Caroline Salls

Pittsburgh, Feb. 4 - Savient Pharmaceuticals, Inc. requested an extension to its exclusive plan of liquidation filing and plan vote solicitation periods, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Savient is looking to extend its exclusive filing period to May 12 from Feb. 11 and the solicitation period to July 11 from April 12.

The company said the extension will give it the opportunity to fully negotiate, confirm and implement a liquidating plan for the distribution of assets to creditors.

A hearing is scheduled for March 17.

Savient, an East Brunswick, N.J., pharmaceutical company, filed for bankruptcy on Oct. 15. The Chapter 11 case number is 13-12680.

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