Cornerstone Ministries requests brief exclusivity extension to complete liquidation plan

By Caroline Salls

Pittsburgh, Dec. 8 - Cornerstone Ministries Investments, Inc. requested a third extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the Northern District of Georgia.

The company wants to extend its exclusive plan-filing period to Dec. 15 from Dec. 7 and the solicitation period to Feb. 13 from Feb. 5.

According to the motion, Cornerstone and its official committee of unsecured creditors are in the final stages of completing their joint plan and related disclosure statement.

Cornerstone is a Cumming, Ga., company that offers financial assistance to churches and faith-based organizations that offer senior housing, student housing and daycare facilities. Cornerstone filed for bankruptcy on Feb. 10, 2008. Its Chapter 11 case number is 08-20355.

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