Hostess gets more time to file plan despite committee's objection

By Lisa Kerner

Charlotte, N.C., April 17 - Hostess Brands, Inc.'s request for a 90-day extension of its exclusive periods for filing a Chapter 11 plan and soliciting plan acceptances was granted by the U.S. Bankruptcy Court for the Southern District of New York on Tuesday, according to an attorney familiar with the case.

The exclusive right to file a Chapter 11 plan is extended through Aug. 8 from May 10 and the solicitation period is extended to Oct. 7 from July 9.

As previously reported, Hostess sought the extensions to renegotiate its collective bargaining agreements with union workers, formulate a backup marketing plan and identify potential plan sponsors.

The company's official committee of unsecured creditors had objected to the request, claiming the extension precluded the committee from filing its own plan of reorganization.

Hostess Brands, an Irving, Texas-based operator of regional bakeries, filed for bankruptcy on Jan. 11. Its Chapter 11 case number is 12-22052.

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