Reichhold eyes additional two months to file, solicit Chapter 11 plan

By Kali Hays

New York, March 27 – Reichhold Holdings US, Inc. is seeking a 60-day extension of its exclusive plan filing and solicitation periods, according to a March 26 motion with the U.S. Bankruptcy Court for the District of Delaware.

If approved, this will be the second extension of Reichhold’s exclusive periods.

The company asked that its plan filing period be extend to June 29 from April 28 and its solicitation period to Aug. 28 from June 29.

Reichhold said it has “made substantial progress” since its last extension, including the marketing and sale of substantially all company assets to Reichhold Acquisitions Holdings LLC for the aggregate purchase price of $146.75 million.

The company is still working toward the closure of the sale, selling any remaining assets and settling claims, according to the motion.

A hearing to consider the extension is set for April 16.

Reichhold supplies resins for the industrial, transportation, construction, marine, consumer and graphic arts markets. It is based in Durham, N.C. The company filed for bankruptcy on Sept. 30, 2014 under Chapter 11 case number 14-12237.

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