Tower Deadline Extended For Sixth Time

Law360, New York (August 18, 2006, 12:00 AM EDT) -- A bankruptcy court has pushed back the deadline for Tower Automotive Inc.’s reorganization plan, marking the sixth time the bankrupt auto parts maker has been granted an extension in its Chapter 11 proceedings.

Tower filed the extension request with the U.S. Bankruptcy Court for the Southern District of New York on Aug. 4, seeking until Oct. 25 to submit a restructuring plan.

Under bankruptcy law, companies must turn in a Chapter 11 plan mapping out how creditors will be paid. Exclusivity periods bar other parties from...
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