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Dura seeks four-month exclusivity extension to avoid delay in plan confirmation process
By Caroline Salls
Pittsburgh, May 14 - Dura Automotive Systems, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.
The company wants to extend its exclusive plan-filing period to Sept. 30 from May 23 and the solicitation period to Nov. 30 from July 23.
Although the company said it plans to have filed a plan of reorganization and completed vote solicitation by Sept. 30, Dura said the extension will avoid unnecessary delay in the process and avoid uncertainty among creditors that could affect recoveries.
A hearing is schedule for May 30.
Dura, a Rochester Hills, Mich.-based automotive parts maker, filed for bankruptcy on Oct. 30, 2006. Its Chapter 11 case number is 06-11202.
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