WestPoint Stevens seeks extension to Dec. 30 to file a plan and Feb. 28 to solicit votes

New York, Sept. 15 - WestPoint Stevens Inc. asked to extend its exclusive right to file a plan of reorganization to Dec. 30 and to solicit votes to Feb. 28, 2005.

The current expiration dates are Oct. 1 and Nov. 30 respectively.

The previous extension was approved over an objection from R2 Top Hat.

However the court only granted a 60-day extension instead of the 90 days requested by WestPoint Stevens after hearing from the company's first lien lenders.

In the latest extension request, filed with the U.S. Bankruptcy Court for the Southern District of New York on Wednesday, WestPoint Stevens said that based on the milestones negotiated with the first lien lenders it will need more time to prepare a plan of reorganization.

It presented its revised business plan to creditors on Aug. 20 - which it noted was within the 10 day grace period allowed from the Aug. 10 scheduled date - and has set a meeting for Sept. 20 at which Rothschild will present its valuation report, again within 10 days of the Sept. 14 milestone.

A hearing on the extension is set for Sept. 28.

WestPoint Stevens, a West Point, Ga., textile manufacturer, filed for bankruptcy on June 1, 2003. Its Chapter 11 case number is 03-13532.

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