Tarragon looks to extend exclusive plan voting period to July 12

By Caroline Salls

Pittsburgh, April 29 - Tarragon Corp. requested an extension to its exclusive period for soliciting votes on a plan of reorganization, according to a Thursday filing with the U.S. Bankruptcy Court for the District of New Jersey.

The company wants to extend its exclusive solicitation period to July 12 from June 3.

Since its last exclusivity extension was granted, the company said it continued its efforts to formulate alternative plan structures with several potential plan sponsors.

As a result, Tarragon filed an amended plan and disclosure statement on April 21, with a disclosure statement hearing scheduled for May 11.

The company said it plans to solicit the votes upon approval of the disclosure statement.

A hearing on approval of the exclusivity extension is scheduled for May 20.

Tarragon, a New York homebuilder, filed for bankruptcy on Jan. 12, 2009. Its Chapter 11 case number is 09-10555.

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