Ausam Secures 90 More Days To File Chapter 11 Plan

Law360, New York (August 23, 2006, 12:00 AM EDT) -- Biopharmaceutical company Ausam Biotechnologies Inc. has won 90 additional days to retain its exclusive right to put forth a reorganization plan, marking its second extension since it filed for Chapter 11 in February.

Judge Robert D. Drain pushed off the deadline for Ausam to submit a plan through Nov. 7 and allowed the company to lobby for votes for the plan through Jan. 6 in the U.S. Bankruptcy Court for the Southern District of New York on Tuesday.

The extension will give Ausam a little more...
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