Hayes Lemmerz requests 'critical' two-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., Nov. 25 - Hayes Lemmerz International, Inc. requested an extension to its exclusive periods to file and 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 the exclusive plan-filing period to Feb. 5 from Dec. 7 and the solicitation period to April 6 from Feb. 5.

Hayes Lemmerz said it is seeking to preserve its rights to exclusivity while negotiating with lenders to secure exit financing.

The company said the extensions are "critical" to its ability to consummate its plan of reorganization and effectively emerge from Chapter 11.

As previously reported, Hayes Lemmerz's plan of reorganization was confirmed on Nov. 3 conditioned on the company obtaining $100 million of exit financing.

A hearing is scheduled for Dec. 18.

Hayes Lemmerz is a Northville, Mich., maker of automotive and commercial highway wheels. It filed for Chapter 11 on May 12 in the U.S. Bankruptcy Court for the District of Delaware. Its case number is 09-11655.

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