Bankruptcy Management Solutions' exchange offer for PIK notes extended

By Angela McDaniels

Tacoma, Wash., Sept. 16 - BMS Holdings, Inc. extended the private exchange offer and consent solicitation for Bankruptcy Management Solutions, Inc.'s floating-rate senior payment-in-kind notes due 2012 to 5 p.m. ET on Sept. 28, according to a company news release.

The company is offering common stock and warrants in exchange for the notes.

Holders of more than 80% of the notes previously indicated a willingness to support the debt-for-equity exchange.

As of Sept. 15, approximately $24 million of the notes have been tendered.

The company is a bankruptcy services provider with headquarters in Irvine, Calif.

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