PSL-North America gets OK to extend exclusivity periods

By Mark Reccek

Bethlehem, Pa., Nov. 24 – PSL-North America LLC received court authorization to extend its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Nov. 24 with U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive filing period was extended to Dec. 16 from Oct. 12 and its solicitation period extended to Feb. 16 from Dec. 13.

As previously reported, PSL said the extensions were warranted as it has been in the process of drafting a plan and disclosure statement, of which it intends to file within the next few weeks.

Bay St. Louis, Miss.-based PSL-North America is a subsidiary of PSL Ltd., a Daman, India, pipe manufacturer. The company filed for bankruptcy on June 16, 2014 under Chapter 11 case number 14-11477.

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