Entergy New Orleans requests 120-day exclusivity extension

By Caroline Salls

Pittsburgh, July 28 - Entergy New Orleans, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the Eastern District of Louisiana.

The company wants to extend its exclusive plan filing period to Dec. 19 from Aug. 21 and the solicitation period to Feb. 15, 2007 from Oct. 18.

According to the motion, the company cannot formulate a plan because its efforts to restructure its finances and restore its infrastructure following Hurricane Katrina has led to unresolved contingencies that continue to obscure its financial future.

Specifically, the company said it is still not sure whether it will receive financial assistance in the form of government grant money.

A hearing on the extension is scheduled for Sept. 18.

On Friday, the court granted a bridge exclusivity extension, prolonging the plan-filing period until an order on the full extension request is entered.

Entergy New Orleans provides electric and natural gas service to customers in New Orleans and is the smallest of Entergy Corp.'s five utility companies. Entergy New Orleans filed for Chapter 11 on Sept. 23, 2005. Its case number is 05-17697.

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