FairPoint asks court for additional time to develop consensual plan

By Lisa Kerner

Charlotte, N.C., Feb. 23 - FairPoint Communications, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive plan-filing period to Aug. 23 from Feb. 23 and the solicitation period to Oct. 21, 2010 from April 26.

A hearing has been scheduled for March 22.

FairPoint said it filed the motion "out of an abundance of caution" as it continues to develop a consensual plan.

FairPoint Communications provides communications services and is based in Charlotte, N.C. The company filed for bankruptcy on Oct. 26, and its Chapter 11 case number is 09-16335.

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