BMHC Disclosure Statement Hearing Set for October 22, 2009
updated 3:48 p.m. ET, Wed., Oct . 7, 2009
BOISE, ID - Building Materials Holding Corporation, a leading provider of building materials and construction services to professional residential builders and contractors, today announced that the U.S. Bankruptcy Court in Delaware has set a new date of October 22, 2009 for the hearing on the Company's Amended Disclosure Statement. The hearing was previously scheduled for today, but was postponed at the request of the unsecured creditors committee, which asked the Court for additional time to review the document.
BMHC filed the Amended Disclosure Statement, as well as an Amended Plan of Reorganization, on October 1, 2009. The Amended Plan, which is subject to Court approval, provides for BMHC's secured lenders to convert debt into equity, becoming majority owners of the Company upon emergence. Also on October 1, 2009, BMHC announced that it had obtained a commitment for exit financing of $103.5 million upon emergence to help meet its operating needs and grow its business. The facility will be provided by a group of lenders led by Wells Fargo. The Company continues to expect it will complete its balance sheet restructuring by year-end.
As previously announced, on June 16, 2009, BMHC and all of its subsidiaries voluntarily initiated reorganization cases in Delaware under Chapter 11 of the U.S. Bankruptcy Code. Through its restructuring, BMHC plans to significantly reduce its outstanding funded debt, putting the Company in a stronger financial position for the future.
News 
Market Data 
Discover 
