Optim Energy plan or sale motion filing deadline extended to Feb. 9

By Caroline Salls

Pittsburgh, Nov. 17 – Optim Energy, LLC’s debtor-in-possession credit agreement deadline for filing a plan of reorganization and disclosure statement or a sale and bidding procedures motion has been extended to Feb. 9, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company must deliver either a draft plan and disclosure statement or a sale proposal to the majority lenders by Dec. 15.

As previously reported, Optim has begun formulating potential restructuring strategies for its gas plan portfolio that include the possible sale of the portfolio to a sponsor of a reorganization plan.

Optim, a Silver Spring, Md.-based power plant owner, filed for bankruptcy on Feb. 12, 2014. The Chapter 11 case number is 14-10262.

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