Southaven Power granted 180-day exclusivity extensions to allow for claims arbitration

By Caroline Salls

Pittsburgh, Jan. 12 - Southaven Power, LLC obtained extensions to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the Western District of North Carolina.

The company's exclusive plan-filing period was extended to July 17, 2006 from Jan. 16 and the solicitation period to Sept. 11, 2006 from March 16.

According to the motion, the company needs the extra time because arbitration regarding claims related to a dependable capacity and conversion services agreement may not be completed until the end of May or later.

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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