Congoleum gets extension to exclusive periods

By Jeff Pines

Washington, Nov. 10 - The U.S. Bankruptcy Court for the District of New Jersey extended Congoleum Corp.'s exclusive right to file a reorganization plan until Jan. 31 and its exclusive right to solicit votes for that plan until March 31.

The order was filed Tuesday.

The company had asked the court to extend its exclusive period to file a plan to Feb. 23 and its exclusive period to solicit votes until April 25.

The exclusive period to file a plan was supposed to terminate on Oct. 26, but Congoleum obtained an extension to the Nov. 1 hearing.

It said it needs more time to negotiate parts of its reorganization plan.

Congoleum, a Mercerville, N.J., building products manufacturer, filed for bankruptcy on Dec. 31, 2003.

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