Global Power looks to increase Brazilian business wind-down fee cap to $180,000

By Caroline Salls

Pittsburgh, Feb. 5 - Global Power Equipment Group Inc. requested court approval to amend its order approving the wind-down of Global Power Equipment Group Brasilia Ltd.'s operations to increase the cap on payments to cover the cost of the wind-down, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

After entry of the wind-down order, Global Power said it became aware of additional penalties triggered by local law related to the wind-down of the Brazilian operations.

As a result, the company is asking the court to increase the cap to $180,000 from $145,000.

Global Power said the original cap has already been exceeded by $33,000.

A hearing is scheduled for Feb. 21.

Global Power, a Tulsa, Okla., maker of gas turbine power plants and power-related equipment for industrial operations, filed for bankruptcy on Sept. 28. The Chapter 11 case number is 06-11045.

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