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Leiner Seeks To Buy Time To Appease IRS, Buyer

Law360 (December 2, 2008, 12:00 AM EST) -- Bankrupt generic-supplement maker Leiner Health Products Inc. has asked for an extension of its exclusivity period while it works out disagreements with its buyer and the Internal Revenue Service in order to implement the liquidation plan approved in October.

In a motion filed Sunday in the U.S. Bankruptcy Court for the District of Delaware, Leiner asked the court to extend its exclusive period for filing a plan through Feb. 28, and its exclusive period for soliciting votes through March 31. The motion was the fourth time...
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