Acceptance Insurance granted six-month exclusivity extension

By Caroline Salls

Pittsburgh, Feb. 8 - Acceptance Insurance Cos. Inc. obtained an extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Nebraska.

The company's exclusive plan filing period was extended to Aug. 9, 2007 from Feb. 9 and the solicitation period to Oct. 9, 2007 from April 9.

According to the motion, the exclusivity extension is supported by the company's official committee of unsecured creditors.

The company said the extension is necessary to allow it to complete the liquidation of its assets and resolve various claims.

Acceptance, a Council Bluffs, Iowa-based insurance company, filed for bankruptcy on Jan. 7, 2005. Its Chapter 11 case number is 05-80059.

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