Trustee Blasts Ch. 7 Bid In Mont. Power Co-Op Case
By Kat Greene
Law360, Los Angeles (July 19, 2013, 8:01 PM EDT) -- The trustee and noteholders of a bankrupt Montana power co-op on Thursday accused its creditors committee of seeking to force it into Chapter 7 liquidation too soon after it was paid $3.9 million from its largest customer, saying the committee was using the co-op's estate as a source of income.
The creditors committee in June filed to move Southern Montana Electric Generation & Transmission Cooperative Inc. from Chapter 11 reorganization to Chapter 7 liquidation, according to motions filed in Montana bankruptcy court.