Metalforming Technologies granted 90-day exclusivity extension

By Caroline Salls

Pittsburgh, March 7 - Metalforming Technologies, Inc. obtained 90-day extensions to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan filing period was extended to May 12 from Feb. 11 and the solicitation period to July 11 from May 12.

According to the motion, the extensions are necessary to negotiate and finalize a consensual plan. The company said it is currently negotiating to resolve objections to its disclosure statement and negotiating with pre-bankruptcy lenders and its official committee of unsecured creditors.

Metalforming, a Chicago-based automobile parts manufacturer, filed for bankruptcy on June 16, 2005. Its Chapter 11 case number is 05-11697.

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