Yarway secures exclusivity extension to continue plan negotiations

By Caroline Salls

Pittsburgh, July 28 – Yarway Corp. obtained a fourth extension of its exclusive plan of reorganization filing and solicitation periods, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive filing period was extended through Oct. 22 from Aug. 15 and its solicitation period through Dec. 22 from Oct. 14.

Though it has continued to supply requested information and negotiate with its creditors committee and asbestos claimants committee, Yarway said an agreement on plan terms has yet to be reached.

“The requested extension of the exclusive periods will allow this process to continue, either in furtherance of a consensual plan process or orderly litigation to address various issues among the parties,” the motion stated.

Yarway, a Boca Raton, Fla.-based industrial valve maker, filed for bankruptcy on April 23, 2013. Its Chapter 11 case number is 13-11025.

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