Power Co-Op SME Enters Ch. 11 Amid Cash Crisis

Law360, New York (October 24, 2011, 6:58 PM EDT) -- Power distributor Southern Montana Electric Generation and Transmission Cooperative Inc. filed for Chapter 11 protection on Friday, grappling with what officials called a cash flow crisis.

The bankruptcy petition of Billings, Mont.-based SME listed assets of $100 million to $500 million and estimated liabilities in the same range. The cooperative also said it had between 50 and 99 creditors.

A resolution adopted Friday by SME's board of trustees blamed the cash flow problems on issues with the cooperative's power supply obligations, issues with payments and rate...
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