ShengdaTech wins extension of exclusive plan filing, voting periods

By Caroline Salls

Pittsburgh, Dec. 20 - ShengdaTech, Inc. received court approval to extend its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the District of Nevada.

The company's exclusive filing period was extended to March 19 from Dec. 9 and its solicitation period to June 14, 2012 from Feb. 15.

ShengdaTech said it needs more time to investigate the fraudulent actions of its former management and to locate and secure its assets and those of its subsidiaries.

Based in Tai'an City, China, ShengdaTech makes and markets nano-precipitated calcium carbonate and coal-based chemicals. The company filed for bankruptcy on Aug. 19. Its Chapter 11 case number is 11-52649.

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