Liberty Power secures fourth extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., June 17 – Liberty Power Holdings LLC secured a fourth extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.

Specifically, the court extended the plan filing period through Aug. 15 from May 16 and the solicitation period through Oct. 12 from July 14.

The company said in its motion that the debtors want to extend exclusivity so that parties with competing interests don’t hinder their efforts to transition remaining customer contracts to asset purchaser NRG Energy, Inc., as well as a return of a number of customers to the applicable third-party utility.

Liberty Power said the extension will permit the debtors to focus their attention on finalizing the transfer of the customer contracts to the buyer, and a final reconciliation of the final purchase price after completion of the transition, among other things.

The debtors also need time to negotiate with Boston Energy Trading and Marketing LLC concerning the terms of a feasible plan of reorganization.

Liberty Power is an electric retailer based in Fort Lauderdale, Fla. The company filed Chapter 11 bankruptcy on April 20, 2021 under case number 21-13797.

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