Tower Asks For More Time, Just In Case

Law360, New York (May 24, 2007, 12:00 AM EDT) -- Bankrupt Tower Automotive is seeking another extension to file its exclusive plan for reorganization, saying it needs more time just in case its plan isn't approved by the court.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Tower said that it would like to extend the plan proposal period and the solicitation period to August 3. As it stands, the exclusivity period will end June 6.

The bankrupt automaker filed a reorganization plan on May 1. Tower...
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