FiberTower eyes 150-day exclusivity extension to negotiate plan

By Jim Witters

Wilmington, Del., Feb. 28 - FiberTower Corp. is seeking a 150-day extension of its exclusive periods for filing a Chapter 11 plan and for soliciting plan votes, according to documents filed Feb. 28 with the U.S. Bankruptcy Court for the Northern District of Texas.

The company says it needs the additional time to conduct negotiations for the sale of its assets and to discuss a plan with the holders of 2016 notes.

A carrier term sheet approved by the court on Nov. 28 calls for FiberTower to continue to provide service to various carriers at least until April 30 and possibly until July 31.

FiberTower is seeking an extension of its exclusive period for filing a plan through Aug. 12 from March 13. It is seeking an extension of the exclusive period for soliciting plan acceptances through Oct. 11 from May 14.

No hearing has been scheduled to consider the request.

FiberTower also is seeking a bridge order extending the exclusivity periods until a hearing can be conducted.

FiberTower, a San Francisco-based backhaul and access services provider focused primarily on the wireless carrier market, filed for bankruptcy July 17, 2012. Its Chapter 11 case number is 12-44027.

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