Debtors File Motions to Extend Exclusivity Periods in Bankruptcy Proceedings

WILMINGTON, Del. - Following the lead set by another bankrupt asbestos company a couple of months ago, two others that sought Chapter 11 protection from asbestos liabilities have filed for extensions of the exclusive periods in which they can file plans for reorganization.

W.R. Grace & Co. and Armstrong World Industries have both filed for extensions of the exclusive periods in which to file Chapter 11 reorganization plans and solicit approval for the proposals.

U.S. District Judge Joseph J. Farnan Jr. on Sept. 18 granted W.R. Grace's motion to extend its exclusive filing period through Feb. 1, 2002 and to …