Former Hussey Copper gets shorter-than-requested exclusivity extension

By Caroline Salls

Pittsburgh, Feb. 23 - HCL Liquidation Ltd., formerly Hussey Copper Ltd., obtained an extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive filing period was extended to March 21 from Jan. 25 and the solicitation period to May 20 from March 25.

The company originally asked the court to extend the filing period to April 9 and the solicitation period to June 8.

According to Thursday's order, the company must provide a draft of its liquidation plan to its official committee of unsecured creditors by March 14.

HCL said it requested the extension so it can monetize remaining assets, complete the transition of its books and records, address employee-related issues and analyze claims.

The company said it also needs enough time to consider plan structure alternatives.

Hussey, a Leetsdale, Pa.-based copper products manufacturer, filed for bankruptcy on Sept. 27. Its Chapter 11 case number is 11-13010.

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