Yarway eyes fourth exclusivity extension for continued committee talks

By Kali Hays

New York, July 9 – Yarway Corp. is seeking a fourth extension of its exclusive plan of reorganization filing and solicitation periods, according to a July 9 motion with the U.S. Bankruptcy Court for the District of Delaware.

The company asked that its exclusive filing period be extended through Oct. 22 from Aug. 15 and its solicitation period through Dec. 22 from Oct. 14.

Though the company has continued to supply requested information and negotiate with its creditor committee and asbestos claimants committee, plan terms have yet to be agreed upon, according to the motion.

“The requested extension of the exclusive periods will allow this process to continue, either in furtherance of a consensual plan process or orderly litigation to address various issues among the parties,” the motion stated.

A hearing is scheduled for July 30.

Yarway, a Boca Raton, Fla.-based industrial valve maker, filed for bankruptcy on April 23, 2013. Its Chapter 11 case number is 13-11025.

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