Former Constar gets exclusivity extension for committee to file plan

By Kali Hays

New York, Aug. 4 - Capsule International Holdings LLC, formerly Constar International Holdings LLC, received second extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an Aug. 4 order with the U.S. Bankruptcy Court for the District of Delaware.

The exclusive filing period is extended through Sept. 15 from July 17 and the solicitation period through Nov. 14 from Sept. 15.

As previously reported, since Capsule’s official committee of unsecured creditors filed a report revealing various claims that exist in favor of Capsule’s estate, the company said the committee will be able to formulate and fund a Chapter 11 plan and finalize the company’s liquidation.

The company said the requested extension will give the committee time to propose a plan based on a term sheet approved in March and solicit votes.

Constar, a Trevose, Pa.-based maker of polyethylene terephthalate food and beverage containers, filed for bankruptcy on Dec. 19, 2013. The Chapter 11 case number is 13-13281.

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