Local Insight Media Holdings requests two-month exclusivity extension

By Caroline Salls

Pittsburgh, Oct. 13 - Local Insight Media Holdings, Inc. requested an extension to its exclusive periods for filing a plan of reorganization and soliciting votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company said it wants to extend its exclusive filing period to Dec. 12 from Oct. 13 and the solicitation period to Feb. 11 from Dec. 13.

As previously reported, Local Insight's disclosure statement was approved in September, and its plan confirmation hearing is scheduled for Nov. 3.

The company said in the filing that it has resolved all matters with constituents that are key to a successful emergence from bankruptcy and is now focused on completing the solicitation of votes on the plan and on finalizing definitive documentation for settlement term sheets and its exit financing.

Local Insight said the exclusivity extension would protect it from complications in the unlikely event that it would need to adjourn the plan confirmation hearing or withdraw the plan for any reason, according to the filing.

A hearing is scheduled for Nov. 17.

Local Insight, an Englewood, Colo., publisher of print and online directories, filed for bankruptcy on Nov. 17, 2010. Its Chapter 11 case number is 10-13677.

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