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Glacial Energy court grants fifth extension of exclusive plan periods
By Kali Hays
New York, July 2 - Glacial Energy Holdings, Inc. won an additional three-month extension of its exclusive Chapter 11 plan filing and solicitation periods with a July 2 order from the U.S. Bankruptcy Court for the District of Delaware.
The company’s plan filing period is extended to Oct. 13 from July 6 and its solicitation period to Dec. 10 from Sept. 4.
As with its previous request, Glacial said 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 will allow it to continue with “an orderly wind-down” of its business and the Chapter 11 case.
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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