Global Power Equipment Brazilian unit, Italy office wind-down approved

By Caroline Salls

Pittsburgh, Dec. 21 - Global Power Equipment Group, Inc. obtained court approval to wind down the operations of its Brazilian subsidiary, Global Power Equipment Group Brasil Ltda., and Global Power's office in Italy, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

Global Power said in the motion that Global Power Equipment Group Brasil is no longer operating and the wind down is necessary to reduce potential liabilities to its estates.

Similarly, the company said its Italy office has also ceased operations and no longer provides any benefit to its estates.

According to the motion, the cost to wind down both facilities is estimated at $275,000.

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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