Boomerang Tube wins exclusivity extension while awaiting confirmation

By Caroline Salls

Pittsburgh, Oct. 26 – Boomerang Tube LLC received court approval to extend its exclusive periods for filing a Chapter 11 plan of reorganization and soliciting votes on the plan, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company’s exclusive filing period was extended through Jan. 5 from Oct. 7 and the solicitation period through March 4 from Dec. 6.

As previously reported, Boomerang Tube filed a plan and related disclosure statement in July.

According to the extension motion, “the debtors submit that the exclusive periods should be continued so that, if the plan is not confirmed, they will have a sufficient period to engage with their stakeholders to propose an alternative restructuring to the plan currently before the court.”

Boomerang Tube is a St. Louis-based producer of oil country tubular goods and line pipe that filed for bankruptcy on June 9. The Chapter 11 case number is 15-11247.

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