Court Grants Global Power's DIP, Plan Extension

Law360, New York (January 11, 2007, 12:00 AM EST) -- Bankrupt energy-industry manufacturer Global Power Equipment Group Inc. has received court approval to extend its exclusive right to file a reorganization plan, with the new deadline set for April 26.

The company was originally supposed to have its plan lined up by the end of January. Despite the boost, it was still only half the extension the Tulsa, Ok.-based company had requested.

In addition to the extension, Judge Brendan L. Shannon granted a motion allowing Global Power to fully tap an $85 million financing package from...
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