Bankrupt Mont. Power Co-Op Won't Convert To Ch. 7

Law360, New York (August 08, 2013, 4:21 PM ET) -- A Montana power co-op will not have to convert its Chapter 11 plan into a Chapter 7 liquidation, because its restructuring plan is likely to be confirmed, a Montana bankruptcy judge ruled Wednesday.

The creditors committee in June filed to move Southern Montana Electric Generation & Transmission Cooperative Inc. from Chapter 11 reorganization into a Chapter 7 liquidation, just after the power company closed a deal with its primary remaining customer, netting it payments of $2.5 million and $1.4 million for May and June, according to...
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