Hayes Lemmerz secures exclusivity extension to resolve plan issues

By Caroline Salls

Pittsburgh, Sept. 14 - Hayes Lemmerz International, Inc. obtained an extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Hayes Lemmerz's exclusive plan-filing period was extended by 90 days to Dec. 7 and the solicitation period by the same amount of time to Feb. 5.

The company said the additional time will allow it to continue working with key constituents, including its lenders, creditors committee, retiree committee and the Pension Benefit Guaranty Corp., to resolve any issues they may have with its proposed plan of reorganization or business plan.

Hayes Lemmerz also noted the size and complexity of its bankruptcy case.

Hayes Lemmerz is a Northville, Mich., maker of automotive and commercial highway wheels. It filed for Chapter 11 on May 12. Its case number is 09-11655.

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