Modern Continental seeks two-month exclusivity extension to settle project disputes

By Caroline Salls

Pittsburgh, Jan. 7 - Modern Continental Construction Co., Inc. has requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Massachusetts.

The company wants to extend its exclusive plan-filing period to March 20 from Jan. 19 and the solicitation period to May 19 from March 20.

According to the release, now that Modern Continental has settled hotly contested disputes surrounding two of its construction projects, it is working toward completion of other major projects and is actively engaged in settlement negotiations regarding other significant project disputes.

The company said it needs more time to complete these negotiations and to formulate a plan of reorganization.

Modern Continental, a Dedham, Mass., contractor, filed for bankruptcy on June 23, 2008. Its Chapter 11 case number is 08-14558.

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