Aleris seeks to delay filing of Ch. 11 exit plan to June
Dec 07, 2009 | 08:57 AM
| Paul Schaffer
Aleris International Inc., which filed for Chapter 11 bankruptcy protection in February, wants until June 2010 to come up with a reorganization plan and until August to win creditor support for the plan.
An earlier deadline postponement required a plan by Wednesday this week and set Feb. 7 as the advocacy cutoff.
"The debtors are not seeking to extend their exclusive periods in order to delay the Chapter 11 process or to pressure creditors to accede to an unfair plan," the aluminum company told the U.S. Bankruptcy Court for the District of Delaware in a Friday filing. "The debtors seek the extension to maintain momentum and finish the consensual process....
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