Armstrong World Industries granted six-month exclusivity extension

By Caroline Salls

Pittsburgh, Sept. 20 - Armstrong World Industries, Inc. obtained a six-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, although its plan has already been confirmed, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan filing period was extended to March 6, 2007 from Sept. 6 and the solicitation period to May 8, 2007 from Nov. 8.

Armstrong World's plan was confirmed Aug. 18 by the district court.

However, the company said termination of the exclusive periods at this point would most likely lead to long and costly litigation if another party filed a competing plan.

As a result, the company said the exclusivity extension will "promote the intent and purpose of Chapter 11" and maximize the potential for consummating the confirmed plan and proposing and confirming plans for debtors Nitram and Desseaux.

Armstrong, a Lancaster, Pa.-based flooring company, filed for bankruptcy on Dec. 6, 2000. Its Chapter 11 case number is 00-04471.

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