Owens Corning requests exclusivity extension to complete plan vote solicitation, approval process

By Caroline Salls

Pittsburgh, June 20 - Owens Corning requested 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 Delaware.

The company wants to extend its exclusive plan filing and solicitation periods to Oct. 31 from July 31.

According to the motion, the extension is needed to allow the company time to gain approval of the disclosure statement for its sixth amended plan of reorganization, solicit votes on the plan and complete the confirmation hearing.

The disclosure statement hearing is scheduled for July 10 and the confirmation hearing for Sept. 18.

A hearing on approval of the exclusivity extension is scheduled for July 24.

Owens Corning, a Toledo, Ohio, building materials company, filed for bankruptcy on Oct. 5, 2000. Its Chapter 11 case number is 00-3837.

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