Leiner asks court for an extension
Times Staff and Wire Reports
Leiner Health Products Inc., the collapsed vitamin and medicine maker, asked for more time to exit bankruptcy while it resolves a tax claim and a dispute with the company that bought its assets.
Leiner, of Carson, had planned to exit bankruptcy and pay creditors using cash from the sale of its assets to nutritional-supplement maker NBTY Inc. for $385 million.
Without a longer grace period, Leiner faces “a potential risk of disruption,” according to U.S. Bankruptcy Court papers filed in Wilmington, Del.
