Interstate Bakeries May Scratch Plans

Law360, New York (March 10, 2008, 12:00 AM EDT) -- On the brink of a bankruptcy exit, Interstate Bakeries has asked for its reorganization hearing to be postponed as a new investor arrives on the scene that could possibly shake things up regarding the Hostess Twinkie maker's Chapter 11 exit.

On Friday, U.S. Bankruptcy Judge Jerry Venters approved Interstate's request to push back the upcoming reorganization hearing, originally scheduled for March 12, to April 23.

"We are pleased with the interest financial investors have shown in our company," said Chief Executive Officer Craig Jung. "We remain...
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