Anchor Glass Container Corp. has filed a request with the US Bankruptcy Court in Tampa, Florida, for a 90 day extension to its exclusivity period, according to court papers. If approved, the glass container maker will have the sole right to determine its reorganization plan until 7 March 2006. The company's exclusivity period was scheduled to end 7 December 2005. Bankruptcy law requires companies operating under Chapter 11 to submit a plan describing how creditors will be paid. Exclusive periods allow the company to maintain control of the restructuring process without the interference of rival plans. Anchor Glass argued that it needs more time to file a plan because it has renegotiated contracts with several major customers, including Anheuser-Busch Inc. (BUD), Snapple Beverage Corp. and Mott's LLP. The company also obtained court approval for employee retention and severance programs. The Tampa-based company filed for Chapter 11 bankruptcy protection 4 August 2005, its third filing in 10 years. In September 2005, the company received USD 125 million in debtor-in-possession financing
