Cadence Innovation granted three-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., May 14 - Cadence Innovation LLC obtained 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 District of Delaware.

The exclusive plan-filing period was extended to July 22 from April 23 and the solicitation period to Sept. 21 from June 22.

When requesting the extension, the company said the extra time would provide "a reasonable opportunity" to continue the liquidation and wind up of its estates and to negotiate the terms of a plan.

Cadence, a Troy, Mich.-based auto parts supplier, filed for bankruptcy on Aug. 26, 2008. Its Chapter 11 case number is 08-11973.

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