Optim Energy seeks OK of five-month exclusivity extension after sale

By Kali Hays

New York, May 20 - Optim Energy, LLC is seeking court approval of a TK extension of its exclusive plan of reorganization filing and solicitation periods, according to a Tuesday motion with the U.S. Bankruptcy Court for the District of Delaware.

The company ask that its exclusive filing period be extended through Oct. 10 from June 12 and its solicitation period through December 9, 2014 from Aug. 11.

Ongoing litigation connected to claims and "the extraordinary time" committed to the sale of its Twin Oaks plant was cited as creating need for the extension in order to allow the company to develop a plan "free of any interference from creditors or other parties in interest."

A hearing is scheduled for June 12.

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

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