Tarragon exclusivity extended three months to file plan, gain votes

By Jennifer Lanning Drey

Portland, Ore., April 23 - Tarragon Corp. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of New Jersey.

The exclusive plan-filing period was extended to Aug. 10 from May 12 and the solicitation period to Oct. 9 from July 11.

When requesting the extension, Tarragon said it had not finalized any definitive course of action for emerging from bankruptcy.

As a result, the company said it needed more time to closely examine all restructuring alternatives and begin a dialogue with its creditors.

Tarragon, a New York homebuilder, filed for bankruptcy on Jan. 12. Its Chapter 11 case number is 09-10555.

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