Torch requests extension to exclusive periods to file plan, solicit votes, cites Hurricanes Katrina, Rita

New York, Sept. 28 - Torch Offshore, Inc. requested a 30-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan because of Hurricanes Katrina and Rita, according to a Tuesday filing with the U.S. Bankruptcy Court for the Eastern District of Louisiana.

The company wants to extend its exclusive period to file a plan to Nov. 14 from Oct. 15 and to solicit votes to Jan. 16 from Dec. 15.

In its motion, Torch said its professionals have had only limited access to the documents, records and files needed to prepare a plan of reorganization because of Hurricane Katrina. In addition, Torch's own staff had to evacuate.

Furthermore, the professionals moved to Houston - and then had their work interrupted by the closing of buildings in that city due to Hurricane Rita.

A hearing is scheduled for Oct. 26.

Torch Offshore, a New Orleans-based offshore pipeline installation and subsea construction company working in the oil and natural gas industry, filed for bankruptcy on Jan. 7, 2005. Its Chapter 11 case number is 05-10137.

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