Optim Energy lenders agree to extension of plan confirmation deadline

By Kali Hays

New York, June 26 – Optim Energy, LLC’s deadline to obtain confirmation of a plan of reorganization has been extended to July 21 under an amended debtor-in-possession agreement with its lenders, according to a Thursday notice with the U.S. Bankruptcy Court for the District of Delaware.

The milestone regarding the effective date of the plan is also extended to July 31.

As previously reported, the hearing to consider confirmation of Optim’s amended Chapter 11 plan of reorganization was pushed back to July 16 from June 24 earlier this month.

The company received approval of the disclosure statement related to the plan on May 19, which eliminated the company’s previous plans for a sale of its gas plant portfolio.

Optim, a Silver Spring, Md.-based power plant owner, filed for bankruptcy on Feb. 12, 2014. The Chapter 11 case number is 14-10262.

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