Vitro America wins extension of exclusive plan filing, voting periods

By Caroline Salls

Pittsburgh, July 26 - Vitro America, LLC received a 60-day extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the Northern District of Texas.

The company's exclusive period for filing a plan was extended to Oct. 4 from Aug. 5 and its exclusive period for soliciting votes to Dec. 3 from Oct. 2.

While the sale of Vitro America's assets to American Glass Enterprises LLC was approved on June 13, the total amount of assets available for distribution is still unknown, the motion said.

The nature, amount, and validity of each class of claims may also remain undetermined until September, the company said.

In addition, Vitro said up to about $10 million in assets serving as collateral under a letter of credit may become available for distribution under a plan.

Vitro is a Nuevo Leon, Mexico-based glass manufacturer. An involuntary bankruptcy case was filed against its U.S. subsidiaries on Nov. 17, 2010. An order of relief was entered for some of the subsidiaries on April 6, and they have since been operating as debtors in possession. The Chapter 11 case number is 11-32600.

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