Southaven Power granted three-month exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 10 - Southaven Power, LLC obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the Western District of North Carolina.

The company's exclusive plan filing deadline was extended to April 16 from Jan. 15 and the solicitation period to June 11, 2007 from March 12.

The company said the ultimate resolution of its ongoing dependable capacity and conversion services agreement arbitration will be the principal factor in determining the content and structure of its plan and the distributions made to creditors.

Southaven said the arbitration may not be resolved until some time in 2007.

Southaven Power, an energy and transportation company based in Southaven, Miss., filed for bankruptcy on May 20, 2005. Its Chapter 11 case number is 05-32141.

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