Cooper-Standard Holdings seeks exclusivity extension to develop plan

By Alice Popovici

New York, Nov. 6 - Cooper-Standard Holdings, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to March 31 from Dec. 9 and the solicitation period to June 1, 2010 from Feb. 1.

A hearing has been scheduled for Nov. 23.

The company said it has made "substantial progress" in its bankruptcy cases but has spent the majority of its time involved in litigation and negotiations and has not had "sufficient time to develop a complete and finalized plan of reorganization."

Cooper-Standard, a Novi, Mich., manufacturer and marketer of systems and components for the global automotive industry, filed for bankruptcy on Aug. 3. Its Chapter 11 case number is 09-12743.

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