Southern Montana Electric confirmation hearing adjourned to June 13

By Caroline Salls

Pittsburgh, May 30 - Southern Montana Electric Generation and Transmission Cooperative, Inc.'s June 2 plan of reorganization confirmation hearing has been adjourned to June 13, according to a May 30 filing with the U.S. Bankruptcy Court for the District of Montana.

The company asked the court to postpone the hearing with the consent of the counsel to its noteholders, counsel for Southern Montana's member co-operatives, PPL Energy Plus Montana, LLC, the company's official unsecured creditors committee, First Interstate Bank Montana, EPC Services, Inc., NorthWestern Energy and Energy West Resources, Inc. and Energy West Montana.

According to the motion, the extra time will allow Southern Montana and some creditors to finalize their settlement negotiations in writing in order to obtain additional support for the plan and resolve pending objections. In addition, the company said the delay will allow counsel for Southern Montana, the noteholders and Energy West to continue settlement discussions and, if those discussions aren't successful, to hopefully streamline the presentation of their respective cases before the court on an administrative claim issue.

Southern Montana filed for bankruptcy on Oct. 21, 2011. The Billings, Mont.-based cooperative's Chapter 11 case number is 11-62031.

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