Horsehead shareholders look to postpone disclosure hearing to June 20

By Caroline Salls

Pittsburgh, May 23 – Horsehead Holding Corp.’s official committee of equity security holders asked the U.S. Bankruptcy Court for the District of Delaware to postpone the hearing for approval of the disclosure statement for the company’s Chapter 11 plan, according to a motion filed Monday.

Specifically, the committee asked the court to adjourn the hearing to June 20 from June 3 and to give the committee until June 15 to file any objection to the disclosure statement.

“Less than one week following its formation, the equity committee understood that it was simply not possible to address the debtors’ proposed disclosure statement within the timeframe previously established,” the committee said in the motion.

As a result, the committee said it requested a brief consensual extension of the deadline for objections to, and a corresponding continuance of the hearing to consider approval of, the disclosure statement. However, the committee said Horsehead denied that request.

The committee said it was left with no choice but to take its request to the court “given the parties’ unwillingness to provide the equity committee with even a brief extension to enable it to fulfill its responsibilities.”

Pittsburgh-based Horsehead Holding is the parent company of Horsehead Corp., a U.S. producer of specialty zinc and zinc-based products and a recycler of electric arc furnace dust. The company filed for bankruptcy on Feb. 2 under Chapter 11 case number 16-10287.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.