Palm Energy Partners plan effective date pushed back to Jan. 27

By Caroline Salls

Pittsburgh, Jan. 20 - Palm Energy Partners, LLC's plan of reorganization effective date deadline has been extended by five business days to Jan. 27, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

According to the motion, the company needs more time to resolve credit agreement issues related to distributions for taxes and incorporation of provisions of plan settlements that have not been finalized.

Palm Energy, a Metairie, La., consolidated oil and gas company, and its Pisces Energy, LLC subsidiary filed for bankruptcy on Sept. 3. Its Chapter 11 case number is 09-36591.

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