Idearc exclusive period to solicit acceptances extended to Nov. 25

By Alice Popovici

New York, Nov. 12 - Idearc, Inc. received a second extension to its exclusive period to solicit votes on its plan of reorganization until Nov. 25, according to a Thursday filing with the U.S. Bankruptcy Court for the Northern District of Texas.

As previously reported, the company had asked the court to extend its exclusive solicitation period through the conclusion of its reorganization plan hearing, which is scheduled to begin Dec. 9.

The company's holders of senior unsecured notes objected to the motion. MatlinPatterson Global Opportunities Partners III LP and MatlinPatterson Global Opportunities (Cayman) III LP do not oppose a limited extension through Dec. 9, according to the objection; they oppose the extension of exclusivity beyond Dec. 9.

Idearc, a Dallas-based provider of yellow and white page directories and related advertising products, filed for bankruptcy on March 31, 2009 in the U.S. Bankruptcy Court for the Northern District of Texas. Its Chapter 11 case number is 09-31828.

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