Allegheny Denied Extension: A U. S. bankruptcy...

Allegheny Denied Extension: A U. S. bankruptcy court judge has denied a request by Allegheny International to extend for six weeks its exclusive right to plan its reorganization under Chapter 11 bankruptcy laws. The judge’s decision clears the way for the appliance maker’s creditors to file their own reorganization plans, which could include proposals to sell all or part of the company. The extension would have been Allegheny’s 10th since filing for protection from creditors in February, 1988; the latest period expired June 2. “There’s almost a disease abroad,” said Judge Joseph Cosetti, announcing his decision. “When you don’t know what to do, you delay.”