Galaxy Energy requests three-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., July 10 - Galaxy Energy Corp. requested a three-month 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 District of Colorado.

The company wants to extend the exclusive plan-filing period to Oct. 13 from July 14 and the solicitation period to Dec. 9 from Sept. 10.

Galaxy said it is seeking to reorganize through exit financing, an infusion of new equity or sale of some of its properties and needs more time to continue related discussions.

Galaxy, a Denver-based independent oil and gas company, filed for bankruptcy on March 14. Its Chapter 11 case number is 08-13164.

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