BankUnited Financial gets fourth extension of exclusive plan periods

By Caroline Salls

Pittsburgh, Aug. 19 - BankUnited Financial Corp. received a fourth and final extension to its exclusive periods to file and solicit votes on a plan of reorganization, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of Florida.

The company's exclusive filing period was extended to Nov. 22 from Aug. 4 and the solicitation period to Jan. 22 from Oct 3.

Now that it has quantified its net operating losses, the company said it still needs to hire an investment banker, analyze claims and negotiate the terms of a plan before one can be filed.

BankUnited Financial, the holding company for BankUnited FSB, filed for bankruptcy on May 22, 2009. The company is based in Coral Gables, Fla. The Chapter 11 case number is 09-19940.

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