Horsehead seeks more time to file plan as ‘significant work remains’

By Caroline Salls

Pittsburgh, May 31 – Horsehead Holding Corp. asked the U.S. Bankruptcy Court for the District of Delaware to extend its exclusive plan-filing and plan-vote solicitation periods by 150 days, according to a motion filed Friday.

Horsehead is seeking an extension of the exclusive filing period through Oct. 29 and the solicitation period through Dec. 28, 2016.

“Less than four months from the petition date, the debtors have made substantial progress toward achieving their restructuring goals, but significant work remains to be done,” Horsehead said in the motion.

Specifically, the company said it remains focused on remain focused on negotiating with all stakeholders, with the ultimate goal of a consensual plan of reorganization; evaluating and making decisions regarding the assumption or rejection of executory contracts and leases; soliciting votes for and obtaining plan confirmation; and finalizing the reconciliation of, allowance of, and, as needed, objections to the proofs of claim filed in the Chapter 11 cases.

A hearing is scheduled for June 20.

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.

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