Metalforming requests 120-day exclusivity extension

By Caroline Salls

Pittsburgh, Oct. 14 - Metalforming Technologies, Inc. requested a 120-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan filing period to Feb. 11 from Oct. 14 and the solicitation period to April 12 from Dec. 3.

According to the motion, although Metalforming has made substantial progress in the early administration of the bankruptcy case, including beginning the process to sell all of its assets, because of the size and complexity of the case and the various challenges the company has faced and addressed during the initial phases of the case, it has not had the opportunity to negotiate a consensual Chapter 11 plan.

A hearing is scheduled for Nov. 7.

Metalforming, a Chicago-based automobile parts manufacturer, filed for bankruptcy on June 16. Its Chapter 11 case number is 05-11697.

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