Mississippi pipe manufacturer PSL-North America LLC says it needs more time to divide the proceeds from its $104 million sale to India's Jindal Tubular, Dow Jones Daily Bankruptcy Review reported today. In a filing on Monday in U.S. Bankruptcy Court in Wilmington, Del., PSL said that it needs more time to hash out a consensual plan with creditors to winding down its business following the closing of the sale. PSL is requesting an additional three months, until April 13, to develop the plan. Without an extension of the exclusivity period, creditors and other parties could file competing plans, which at a minimum would complicate the confirmation of PSL's own plan.
