Tousa asks to extend exclusivity by four months

By Jennifer Lanning Drey

Portland, Ore., Oct. 9 - Tousa, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Florida.

The company wants to extend the exclusive plan-filing period to Feb. 22 from Oct. 25 and the solicitation period to April 23, 2009 from Dec. 24.

Tousa said the process of developing a plan of reorganization has been complicated by the difficult industry conditions.

The company added that it hoped to be in a position to file a plan "shortly."

Tousa, a Hollywood, Fla.-based homebuilder, filed for bankruptcy on Jan. 29, 2008. Its Chapter 11 case number is 08-10928.

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