Kaiser Gypsum seeks six-month exclusivity extension to focus on plan

By Caroline Salls

Pittsburgh, Dec. 30 – Kaiser Gypsum Co., Inc. requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Dec. 29 with the U.S. Bankruptcy Court for the Western District of North Carolina.

The company wants to extend its exclusive filing period by six months through July 31, 2017 and the solicitation period through Sept. 29, 2017.

Kaiser cited the progress it has made to date in its Chapter 11 cases and “the complexity of the issues presented by these cases” to support its extension request.

“With their initial transition into Chapter 11 now largely complete, the debtors expect to focus their efforts on negotiating a consensual plan of reorganization that would, among other things, provide for the creation and funding of a trust under section 524(g) of the Bankruptcy Code to pay asbestos claims,” the motion said.

Kaiser Gypsum is an Irving, Texas-based manufacturer of construction and remodeling materials. It filed for bankruptcy on Sept. 30. The Chapter 11 case number is 16-31602.

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