Sundevil eyes third exclusivity extension; plan work in final stages

By Caroline Salls

Pittsburgh, Oct. 7 – Sundevil Power Holdings, LLC requested a third extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, Sundevil asked the court to extend its exclusive filing period to Dec. 6 from Oct. 7 and the solicitation period to Feb. 14 from Dec. 16.

The company said it now expects that closing of the sale of its assets “is imminent.”

Sundevil said it has prepared a Chapter 11 plan and is in the final stages of preparation for filing that plan and a related disclosure statement.

“A Chapter 11 plan following a section 363 sale has not been the norm in today’s Chapter 11 environment, and the debtors, with the support of their lenders, believe that their good faith progress toward a Chapter 11 plan case exit merits a further exclusivity extension to foster an efficient conclusion to these cases,” the motion said.

A hearing is scheduled for Oct. 31.

Wayzata, Minn.-based Sundevil Power operates gas-fired power plants in Gila Bend, Ariz. The company filed bankruptcy on Feb. 11, 2016 under Chapter 11 case number 16-10369.

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