Cadence Innovation seeks third exclusivity extension to review claims

By Caroline Salls

Pittsburgh, July 23 - Cadence Innovation LLC is seeking a third 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 company wants to extend its exclusive plan filing period to Oct. 20 from July 22 and the solicitation period to Dec. 20 from Sept. 21.

Cadence said it needs more time to review the amount, validity and priority of the claims that have been filed against it.

The company said the results of its liquidation and claim resolution efforts will help it decide whether confirmation of a liquidating plan is feasible.

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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