Orleans Homebuilders requests precautionary exclusivity extension

By Caroline Salls

Pittsburgh, Sept. 28 - Orleans Homebuilders, Inc. requested an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period 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, and the disclosure statement hearing is scheduled for Sept. 29.

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.

A hearing is scheduled for Nov. 8.

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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