RCN gets extension to exclusive right to file plan

By Jeff Pines

Washington, Nov. 17 - RCN Corp. obtained extra insurance in case it needs to develop and file a new plan of reorganization by getting an extension to Dec. 10 on its exclusive right to file a plan.

The order was filed with the U.S. Bankruptcy Court for the Southern District of New York Tuesday.

In its request for the extension, the Princeton, N.J.-based telecommunications provider thought it would be unlikely that it would need to file a new plan but wanted the cushion just in case.

RCN filed the paperwork for the extension back in September. It filed its reorganization plan in August, and its disclosure statement was approved in October.

The confirmation hearing is scheduled for Dec. 8.

The company filed for bankruptcy on May 27, 2004. Its Chapter 11 case number is 04-13638.

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