Claimants' Committee Objects to Babcock & Wilcox's Seventh Extension Request

NEW ORLEANS - Seven extensions is enough, according to the asbestos claimants' committee for the Babcock & Wilcox bankruptcy, which has objected to the company's most recent request to prolong the exclusivity period for filing an amended plan of reorganization. In Re: The Babcock & Wilcox Co., No. 00-10992 (E.D. La., Bankr.).

In a motion filed May 1 in U.S. Bankruptcy Court for the Eastern District of Louisiana, the committee accuses Babcock & Wilcox of using the extensions to lull claimants into accepting an unfavorable reorganization plan.

'The Debtors have been in bankruptcy for over two years and are no …