Glacial Energy gets second three-month extension of exclusive periods

By Kali Hays

New York, Nov. 20 – Glacial Energy Holdings, Inc. received a second extension of its Chapter 11 plan filing and solicitation periods, according to a Thursday order from the U.S. Bankruptcy Court for the District of Delaware.

Glacial’s filing period is extended through Jan. 5 from Oct. 7 and its solicitation period through March 6 from Dec. 8.

As previously reported, the company said it is “still performing certain critical tasks” related to the transfer of assets to Platinum Partners Value Arbitrage Fund LP since the close of its $32.79 million asset sale in June.

Without the extension, Glacial said the case would become “a chaotic environment with no central focus.”

Glacial Energy, a Sandwich, Mass.-based electricity and natural gas company, filed for bankruptcy on April 10, 2014. The Chapter 11 case number is 14-10833.

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