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Tower Wins Eighth Exclusivity Extension

Law360 (November 30, 2006, 12:00 AM EST) -- A U.S. bankruptcy judge on Thursday granted Tower Automotive Inc.’s eighth request to extend its exclusivity period, giving the bankrupt auto parts maker until Feb. 2 to propose a plan to creditors.

Tower Auto was most recently expected to have a plan in place by Nov. 29, but it asked the U.S. Bankruptcy Court for the Southern District of New York for an extension one week ago, citing “considerable” progress in its Chapter 11 case.

As part of the extension, Tower Auto now has until March...
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