Renaissance Custom Homes granted one-month exclusivity extension

By Caroline Salls

Pittsburgh, March 13 - Renaissance Custom Homes, LLC has received a one-month exclusivity extension, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Oregon.

Specifically, the company's exclusive plan of reorganization filing period was extended to April 9 from March 9 and the exclusive plan vote solicitation period to June 8 from May 8.

According to the motion, Renaissance has begun working on the structure of a proposed plan, but because of continuing changes in the economic circumstances, conditions and prospects in the homebuilding industry and the local markets, it needs to reevaluate the plan structure.

The company said it recently hired financial consultant Obsidian Finance Group, LLC to analyze its financial situation and provide advice on a successful reorganization structure.

Renaissance, a Lake Oswego, Ore.-based residential real estate and home building company, filed for bankruptcy on Sept. 25. Its Chapter 11 case number is 08-35023.

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