Southwest Georgia gets shorter-than-requested exclusivity extension

By Lisa Kerner

Charlotte, N.C., May 23 - Southwest Georgia Ethanol, LLC was granted an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Monday filing with the U.S. Bankruptcy Court for the Middle District of Georgia.

The court extended Southwest Georgia's exclusive plan-filing period to July 1 from June 1 and the solicitation period to Sept. 1 from Aug. 1, according to the filing.

Southwest Georgia had requested its exclusive plan-filing period be extended to Aug. 1 and its solicitation period to Oct. 1.

In making its request for an extension, the company said it had begun discussions with its secured lenders, official committee of unsecured creditors and other parties in interest regarding a plan, but it needed more time to continue the negotiations and prepare the court filings.

The company also cited the size and complexity of its bankruptcy case.

Southwest Georgia Ethanol is a wholly owned subsidiary of First United Ethanol LLC, a Pelham, Ga.-based ethanol producer. The subsidiary filed for bankruptcy on Feb. 1. The Chapter 11 case number is 11-10145.

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