Storm Cat Energy secures exclusivity extension to address claims

By Caroline Salls

Pittsburgh, June 16 - Storm Cat Energy (USA) Corp. obtained an extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Colorado.

Specifically, the company's exclusive plan-filing period was extended to Sept. 8 from June 8 and the solicitation period to Nov. 5 from Aug. 7.

According to the motion, Storm Cat is working to address tens of millions of dollars of claims, and it will most likely need to file an insolvency case in Canada to address the claims of its non-debtor Canadian parent and restructure its operations as a continuous going concern.

Storm Cat, with headquarters in Denver and Calgary, Alta., filed for bankruptcy on Nov. 10, 2008. The Chapter 11 case number is 08-27887.

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