Covanta proposes extending exclusivity period

By Carlise Newman

Chicago, Nov. 19 - Covanta Energy Corp. is proposing to extend its exclusivity period to Feb 23 from Dec. 8, and the right to solicit acceptances through March 24.

Objections to the request are due by Nov. 28 and a hearing will be held Dec. 3, according to a filing with the U.S. Bankruptcy Court, Southern District of New York.

Covanta said in the filing that it needs additional time to consider possible alternatives to the plan and to allow the company the opportunity to amend the plan if it is not confirmed.

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