Tower Automotive granted 120-day exclusivity extension

By Caroline Salls

Pittsburgh, Sept. 22 - Tower Automotive, Inc. obtained a 120-day extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive plan filing period was extended to Jan. 27 from Sept. 30 and the solicitation period to March 27, 2006 from Nov. 29.

In its motion, Tower said the size and complexity of its case will keep it from filing its plan by the current deadline.

The Novi, Mich.-based auto parts maker filed for bankruptcy on Feb. 1, 2005. Its Chapter 11 case number is 05-10578.

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