Modern Continental requests three-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., Oct. 10 - Modern Continental Construction Co., Inc. requested a three-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Massachusetts.

The company wants to extend the exclusive plan-filing period to Jan. 19 from Oct. 21 and the solicitation period to March 20, 2009 from Dec. 20.

Modern Continental said that since filing for bankruptcy in June, it has focused most of its attention on negotiating settlements, preparing schedules of assets and liabilities and securing post-petition financing.

The company also noted that the extent of claims against its estate remains unclear.

Modern Continental, a Dedham, Mass., contractor, filed for bankruptcy on June 23. Its Chapter 11 case number is 08-14558.

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