Southaven Power granted exclusivity extension

By Reshmi Basu

New York, Sept. 12 - Southaven Power LLC received 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 period was extended to Nov. 16 from Sept. 13 and the solicitation period to Jan. 16 from Nov. 8.

The extra time allotted was scaled back from the company's original request. As reported earlier, Southaven asked that the exclusive plan-filing period be extended to Dec. 12 and the solicitation period to Feb. 6.

As previously reported, Southaven said the extension is necessary to complete negotiations on the timing and distributions the company will receive under an NEGT Energy Trading - Power, LP claims settlement.

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

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