Renaissance Custom Homes requests one-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., March 10 - Renaissance Custom Homes, LLC requested a second 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 Oregon.

The company wants to extend the exclusive plan-filing period to April 9 from March 9 and the solicitation period to June 8 from May 8.

The company said the extension would allow it to get the full benefit of its hiring of Obsidian Finance Group, LLC as financial consultant with respect to the structure and terms of a viable plan of reorganization.

Obsidian was jointly hired by the company and its committee of unsecured creditors to perform an analysis of Renaissance's financial situation and provide critical advice to the company, according to the motion.

The company also said it needs more time to negotiate a proposed plan with the committee and the secured creditors.

Renaissance, a Lake Oswego, Ore.-based residential real estate and home building company, filed for bankruptcy on Sept. 25. Its Chapter 11 case number is 08-35023.

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