Global Power Inches Closer To Ch. 11 Exit

Law360, New York (October 11, 2007, 12:00 AM EDT) -- A judge gave bankrupt Global Power Equipment Group Inc. more time to solicit approval of its Chapter 11 reorganization plan, just as the company reached a settlement agreement with its equity committee and noteholders.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware on Tuesday gave the company until Oct. 24 to file its exclusive plan of reorganization and until Dec. 24 to win support for its plan. Objections to the plan extension wereadjourned until Oct. 24, when a hearing is...
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