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Pope & Talbot receives extension: File Chapter 11 Plan

Pope & Talbot Inc. (PTBT Pink Sheets) has received an extension from a federal judge giving it the right to file a…

Pope & Talbot Inc. (PTBT Pink Sheets) has received an extension from a federal judge giving it the right to file a Chapter 11 liquidation plan through to June 2.

The 75-day extension will give the company additional time to file a plan and solicit votes without the threat of rival plans.

The sale of three P&T sawmills to International Forest Products Ltd. (IFP.A TSX) and the sale of its paper business to an affiliate of the Sinar Mas Group is expected to close by April 4, 2008.

Source: Salman Partners Inc.