Global Power exclusive plan-filing period extended to July 12 hearing date

By Caroline Salls

Pittsburgh, July 5 - Global Power Equipment Group Inc.'s exclusive plan of reorganization filing period was extended to July 12 to coincide with a postponement of the hearing for approval of the full extension, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The hearing was originally scheduled for July 10, the date the exclusive plan-filing period was set to expire, but the hearing has been adjourned to July 12.

As previously reported, the company asked the court to extend its exclusive plan period to Nov. 1 from July 10 and the solicitation period to Nov. 30 from Sept 10.

In its motion requesting the extension, Global Power said it needed more time to refine and test its business plan, to evaluate and reconcile claims and to analyze its intercompany assets and liabilities.

Global Power, a Tulsa, Okla., maker of gas turbine power plants and power-related equipment for industrial operations, filed for bankruptcy on Sept. 28, 2006. The Chapter 11 case number is 06-11045.

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