Idearc requests exclusivity extension to document plan settlement

By Caroline Salls

Pittsburgh, Nov. 19 - Idearc Inc. requested an extension to its exclusive period to solicit votes on its plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the Northern District of Texas.

The company wants to extend its exclusive solicitation period through the conclusion of the plan confirmation hearing. The period is scheduled to expire on Nov. 25.

According to the release, the extension will let the company document a global plan settlement reached with its official committee of unsecured creditors and lenders and MatlinPatterson Global Opportunities Partners III LP and MatlinPatterson Global Opportunities Partners (Cayman) III LP.

The company said the extension will also allow it to continue discussions on the plan without the disruption of competing plans being filed.

Idearc, a Dallas-based provider of yellow and white page directories and related advertising products, filed for bankruptcy on March 31, 2009. Its Chapter 11 case number is 09-31828.

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