Spansion eyes three-month exclusivity extension to analyze issues

By Caroline Salls

Pittsburgh, Sept. 8 - Spansion Inc. requested an extension to its exclusive periods for filing a plan of reorganization and for soliciting 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 filing period to Dec. 28 from Sept. 28 and the solicitation period to Feb. 23 from Nov. 25.

According to the motion, the extension would allow the company, along with its official committee of unsecured creditors and an informal group of holders of its senior secured floating-rate notes due 2013, to continue analyzing economic and operational issues that need to be addressed before a plan can be filed.

Spansion also cited the size and complexity of its bankruptcy case.

A hearing is scheduled for Sept. 22.

Spansion, a Sunnyvale, Calif.-based maker of flash memory products, filed for bankruptcy on March 1, 2009. Its Chapter 11 case number is 09-10690.

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