Proxim Seeks More Time For Chapter 11 Plan

Law360, New York (April 3, 2006, 12:00 AM EDT) -- Seeking more time to iron out its negotiations with creditors, wireless equipment maker Proxim Corp. has asked a federal court for a 60-day extension of its reorganization plan.

Proxim, based in San Jose, Calif., has requested an extension of its exclusivity period to develop a Chapter 11 plan through June 8, according to a court filing Thursday. The company has also asked for more time to persuade creditors to accept the plan until Aug. 5.

Its current exclusivity period to develop a plan ends Sunday, but...
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