U.S. Energy Seeks Two-Month Exclusivity Extension

Law360, New York (April 18, 2008, 12:00 AM EDT) -- Bankrupt U.S. Energy Systems Inc. has told a court it needs an extra 60 days to negotiate with creditors and other stakeholders before filing a reorganization plan and exiting Chapter 11.

In a motion for an extension of its exclusive right to put forth a plan, filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York, U.S. Energy said its resources and staff were stretched to the limit.

The company, which currently has until May 8 to file its Chapter 11 exit...
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