Building Materials requests exclusivity extension to confirm plan

By Alice Popovici

New York, Oct. 13 - Building Materials Holding Corp. requested a 90-day extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Jan. 12 from Oct. 14 and the solicitation period to March 15 from Dec. 14.

A hearing has been scheduled for Nov. 19.

The company said it has made "substantial progress" in its Chapter 11 cases and has obtained a final order approving $80 million in debtor-in-possession financing and filed several amended plan of reorganization disclosure statements as a result of continued negotiations.

The company said that "excellent prospects exist for confirming a viable plan of reorganization in these cases," according to the motion. "An extension of the exclusive periods will permit the [company] and [its] creditors to make additional progress toward confirmation of the plan."

Building Materials, a Boise, Idaho-based provider of building materials and construction services to professional residential builders and contractors, filed for bankruptcy on June 16. Its Chapter 11 case number is 09-12074.

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