Global Power Equipment seeks exclusivity extension

By Reshmi Basu

New York, June 11 - Global Power Equipment Group Inc. has requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan period to Nov. 1 from July 10 and the solicitation period to Nov. 30 from Sept 10.

In its motion requesting the extension, Global Power said it needed more time to refine and test its business plan, to evaluate and reconcile claims and to analyze its intercompany assets and liabilities.

Global Power, a Tulsa, Okla., maker of gas turbine power plants and power-related equipment for industrial operations, filed for bankruptcy on Sept. 28. The Chapter 11 case number is 06-11045.

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