Italian real estate developer Risanamento SpA (RN.MI) Friday said it postponed its board meeting to approve first-half results as it first seeks to agree on a plan to save the company from bankruptcy.

In a statement, Risanamento said the board meeting on first-half results will take place by Tuesday. The meeting was expected today.

In July, Risanamento's advisors started to work on a new restructuring plan to be submitted to a Milan judge by Sept. 1 in order to avoid bankruptcy.

Creditor banks of the Milan-based company include- Intesa Sanpaolo SpA (ISP.MI), UniCredit SpA (UCG.MI), Banco Popolare SC (BP.MI) and Banca Popolare di Milano (PMI.MI).

Company Web site: http://www.risanamentospa.it

-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com

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