Newly formed Constar committee asks court to postpone Jan. 9 hearing

By Caroline Salls

Pittsburgh, Jan. 8 - Constar International Holdings LLC's official committee of unsecured creditors asked the U.S. Bankruptcy Court for the District of Delaware to postpone the Jan. 9 hearing for approval of the company's debtor-in-possession financing and assets sale procedures until next week, according to a Jan. 8 court filing.

The committee said its formation was delayed because of inclement weather.

Since the selection of counsel and financial advisers, the committee said its professionals have been reviewing all of the information related to the case and the motions in question.

As a result of the formation delay and the large amount of information to be processed, the creditor group asked the company to consent to adjournment of the hearing to Jan. 16.

While Constar did agree to extend the committee's deadline for objecting to the motions by two days, it has not agreed to the adjournment, the motion said.

The adjournment motion was added to the agenda for the Jan. 9 hearing on Wednesday.

Constar, a Trevose, Pa.-based maker of polyethylene terephthalate food and beverage containers, filed for bankruptcy on Dec. 19. The Chapter 11 case number is 13-13281.

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