Special Devices seeks exclusivity extension to avoid competing plans

By Caroline Salls

Pittsburgh, April 15 - Special Devices, Inc. is seeking a three-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to July 13 from April 14 and the solicitation period to Sept. 11 from June 13.

Since its plan and related disclosure statement have already been filed, Special Devices said it is requesting the extension "out of an abundance of caution" to make sure the exclusivity is intact throughout the solicitation process.

If the proposed plan is not confirmed, the company said it should be given a chance to rework it without having to deal with the disruption of competing plans.

A hearing is scheduled for May 15.

Special Devices, a Moorpark, Calif., manufacturer of pyrotechnic devices for airbags, filed for bankruptcy on Dec. 15. Its Chapter 11 case number is 08-13312.

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