Interstate Bakeries amends DIP to pay pre-bankruptcy tax claims, extend financial report delivery deadlines

By Caroline Salls

Pittsburgh, Dec. 5 - Interstate Bakeries Corp. entered into the fourth amendment and waiver to its debtor-in-possession revolving credit agreement with JPMorgan Chase Bank, NA that authorizes the company to make up to $12 million in payments for pre-bankruptcy real property tax and other secured claims and extends the delivery date for financial reports, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends to March 31 the deadline for delivery of consolidated quarterly financials for fiscal year 2005 and consolidated annual financials for fiscal years 2004 and 2005 and extends to June 3, 2006 the deadline for delivery of consolidated quarterly financials for the first, second and third quarters of fiscal year 2006.

The waivers also permit the financial statements for fiscal periods ending before June 3, 2006 to be subject to adjustments and qualifications related to pension matters and some expense allocations.

Interstate, a Kansas City, Mo., bakery operator, filed for bankruptcy Sept. 22, 2004 in the U.S. Bankruptcy Court for the Western District of Missouri. Its Chapter 11 case number is 04-45814.

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