Orleans granted court approval of precautionary exclusivity extension

By Caroline Salls

Pittsburgh, Nov. 8 - Orleans Homebuilders, Inc. received an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive filing period was extended to Nov. 26 from Sept. 27 and the solicitation period to Jan. 25 from Nov. 26.

As previously reported, Orleans has already filed a plan.

However, the company said it requested the extension "out of an abundance of caution" to allow it to seek confirmation of the proposed plan without distraction or delay.

Orleans Homebuilders, a Bensalem, Pa.-based developer, builder and marketer of single-family homes, townhouses and condominiums, filed for bankruptcy on March 1, 2010. The Chapter 11 case number is 10-10684.

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