Chrysler seeks more time to file liquidation plan; Aug. 27 hearing set

By Jennifer Lanning Drey

Portland, Ore., Aug. 14 - Old Carco LLC, formerly Chrysler LLC, requested an extension to its exclusive periods to file a plan of liquidation and to solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend the exclusive plan-filing period to Nov. 30 from Aug. 28 and the solicitation period to Jan. 29 from Oct. 27.

The company has sold substantially all of its assets and is now completing the administration of its estates and wind-down of its affairs.

Old Carco said it needs additional time to complete its efforts to work with key constituents, establish and implement a wind-down plan and seek confirmation of a Chapter 11 plan.

A hearing is scheduled for Aug. 27.

Old Carco, an Auburn Hills, Mich.-based automotive company, filed for bankruptcy on April 30. Its Chapter 11 case number is 09-50002.

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