K-V Pharmaceutical gets shorter exclusivity extension than requested

By Jim Witters

Wilmington, Del., Nov. 16 - K-V Pharmaceutical Co. received a 60-day extension of its exclusive periods for filing a Chapter 11 plan of reorganization and for soliciting plan acceptances, according to a Nov. 16 filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company had sought a 90-day extension, saying that pressing matters left it with no time to negotiate a Chapter 11 plan.

The order extends the exclusive period for filing a plan to Feb. 4 from Dec. 3. The exclusive period for soliciting plan votes is extended to April 5 from Jan. 31.

K-V Pharmaceutical, a St. Louis specialty pharmaceutical company, filed for bankruptcy on Aug. 4 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 12-13346.

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