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Diamond House Seeks More Time To Polish Plan

Law360 (June 29, 2007, 12:00 AM EDT) -- Diamond jewelry wholesaler LID Ltd. has asked a bankruptcy judge for more time to file its reorganization plan free of competing plans, three months after the company slipped into Chapter 11.

The company filed the motion for an exclusivity extension with Judge James Peck in the southern New York court Thursday.

LID has been struggling in recent months to pull together a plan for its future since it won court approval in April for using the cash that secures its lenders' claims, also known as cash...
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