Optim Energy asks for additional two-month exclusivity extension

By Kali Hays

New York, June 9 – Optim Energy, LLC is seeking a fourth extension of its exclusive plan filing and solicitation periods, according to a Monday motion with the U.S. Bankruptcy Court for the District of Delaware.

The company asked that its plan filing period be extended to Aug. 12 from June 9 and its solicitation period to Oct. 12 from Aug. 10.

As previously reported, Optim received approval of the disclosure statement related to its amended plan of reorganization May 19, and a hearing to confirm the plan is set for June 24.

The company said that the extension is necessary “in part, to finish soliciting” and also to seek confirmation of the plan “free of outside influence.”

“To allow an alternate plan to be filed at this critical juncture would be time consuming, expensive and not in the best interests of actual creditors of these estates when there is a confirmable plan in place that will offer creditors near to full to full recoveries,” the motion stated.

A hearing to consider the extension is set for July 29.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.