Glacial Energy requests a fifth extension of exclusive plan periods

By Kali Hays

New York, June 12 – Glacial Energy Holdings, Inc. is seeking an additional three-month extension of its exclusive Chapter 11 plan filing and solicitation periods, according to a Friday motion filed with the U.S. Bankruptcy Court for the District of Delaware.

The company asked that its plan filing period be extended to Oct. 30 from July 6 and its solicitation period to Dec. 10 from Sept. 4.

As with its previous request, Glacial said that it has devoted significant time to completing asset sales, negotiation settlements and funding and that it has started the claims-reconciliation process.

The company said an extension of the plan periods would allow it to continue with “an orderly wind-down” of its business and the Chapter 11 case.

A hearing to consider the extension is set for July 24.

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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