Point Blank eyes fourth extension to plan filing, soliciting periods

By Lisa Kerner

Charlotte, N.C., June 9 - Point Blank Solutions, Inc. is seeking a fourth extension to its exclusive periods to file and solicit votes on a plan of reorganization, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period by 127 days to Oct. 14 from June 9 and the solicitation period, also by 127 days, to Dec. 14 from Aug. 9.

Point Blank needs additional time to work with key constituents to consider all alternatives regarding an appropriate exit strategy, the filing said.

A hearing is scheduled for June 29.

In March, the court extended Point Blank's exclusive filing period to June 9 from Feb. 9 and the solicitation period to Aug. 9 from April 11.

In December, Point Blank's exclusive period to file a plan of reorganization was extended to Feb. 9 from Oct. 12 and its exclusive period to solicit votes on the plan was extended to April 11 from Dec. 10.

Point Blank, a Pompano Beach, Fla., producer of body armor systems for law enforcement and the military, filed for bankruptcy on April 14, 2010. Its Chapter 11 case number is 10-11255.

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