Glacial Energy eyes 60-day exclusivity extension for plan negotiations

By Kali Hays

New York, Aug. 6 – Glacial Energy Holdings, Inc. is seeking a two-month extension of its exclusive Chapter 11 plan filing and solicitation periods, according to an Aug. 6 motion with the U.S. Bankruptcy Court for the District of Delaware.

The company asked that its exclusive filing period be extended through Oct. 7 from Aug. 8 and the solicitation period through Dec. 8 from Oct. 7.

Since filing for bankruptcy, Glacial said its time has been spent implementing its debtor-in-possession financing and responding to “myriad requests” from employees, vendors, taxing authorities, utility companies, the U.S. trustee and its creditors committee and that negotiations regarding a plan are still underway.

A hearing is scheduled for Sept. 15.

Glacial Energy, a Sandwich, Mass.-based electricity and natural gas company, filed for bankruptcy on April 10. The Chapter 11 case number is 14-10833.

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