Modern Continental exclusive plan-filing period extended to May 29

By Caroline Salls

Pittsburgh, March 24 - Modern Continental Construction Co., Inc. was granted an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Massachusetts.

The company's exclusive plan-filing period was extended to May 29 from March 20 and the solicitation period to July 31 from May 20.

According to the motion, Modern Continental has negotiated global settlements related to project disputes, but it is still in the final stages of completing major construction projects and negotiating settlements of other significant project disputes.

After those matters are complete, the company said it will be in a better position to formulate a plan.

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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