Liberty Power secures second extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Dec. 3 – Liberty Power Holdings LLC secured a second extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.

Specifically, the court extended the plan-filing period through Feb. 14 from Nov. 16 and the solicitation period through April 14 from Jan. 14.

The company said in its motion that the debtors need additional time to be able to finalize the transfer of the applicable customer contracts to the purchaser of the company’s assets, NRG Energy, Inc., which could continue into January, work on a final reconciliation of the final purchase price with the buyer and continue working toward a solution to the remaining customer contracts in Texas not being sold to the buyer.

The company also needs more time to address requests made by Massachusetts for the allowance of Chapter 11 administrative expense claims, the result of which may have a significant impact on the terms of any proposed plan.

Liberty Power is an electric retailer based in Fort Lauderdale, Fla. The company filed Chapter 11 bankruptcy on April 20, 2021 under case number 21-13797.

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