Interstate Bakeries' confirmation hearing moved to April 23 to allow further plan investment discussions

By Jennifer Lanning Drey

Portland, Ore., March 10 - Interstate Bakeries Corp.'s hearing for confirmation of its plan of reorganization was moved to April 23 from March 12 at the request of the company, according to a Monday filing with the U.S. Bankruptcy Court for the Western District of Missouri.

As previously reported, Interstate asked the court to push back the hearing in order to allow the company more time to continue talks regarding possible changes to its plan of reorganization that would allow Interstate to emerge from Chapter 11 bankruptcy as a stand-alone company.

Interstate said it is in discussions including a potential financial investment proposal that includes labor concessions agreeable to the International Brotherhood of Teamsters.

Silver Point Finance LLC's up to $400 million exit financing commitment will expire on March 14.

Interstate, a Kansas City, Mo., bakery operator, filed for bankruptcy on Sept. 22, 2004. Its Chapter 11 case number is 04-45814.

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