LESLIE FAY GIVEN HEARING POSTPONEMENT
NEW YORK — As expected, The Leslie Fay Cos. got bankruptcy court permission Thursday to postpone until Jan. 24 the hearing to approve its Chapter 11 disclosure statement.
The postponement was needed to give the women’s apparel manufacturer time to file with the court supplemental information required for confirmation of the disclosure statement, said Brian Rosen, counsel to Leslie Fay.
The supplemental information includes plans for the company’s Sassco unit, which will either be sold to Arthur Levine, chairman of the unit, or spun off to shareholders; financial projections, and new executive contracts, including one for John Pomerantz, chairman and chief executive officer.
Rosen, with Weil, Gotshal & Manges, told Bankruptcy Judge Tina Brozman that Leslie Fay expects to file a supplemental disclosure statement by Jan. 16.
In addition the company, reorganizing under Chapter 11 since April 1993, received another extension of its exclusivity period, during which only it can file a plan of reorganization, until Feb. 29.