Sea Launch seeks exclusivity extension to negotiate plan terms

By Caroline Salls

Pittsburgh, Jan. 14 - Sea Launch Co., LLC is seeking an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period to April 19 from Jan. 18 and the solicitation period to June 17 from March 19.

According to the motion, Sea Launch is in continuing negotiations with its partners, suppliers and creditors committee to work toward formulating a plan of reorganization.

A hearing is scheduled for Feb. 4.

Sea Launch, a Long Beach, Calif., heavy-lift satellite commercial launch service provider, filed for bankruptcy on June 22, 2009. Its Chapter 11 case number is 09-12153.

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