Optim Energy Seeks Extension to Ch. 11 Exclusivity Period

Law360, Wilmington (May 20, 2014, 9:18 PM EDT) -- Power plant operator Optim Energy LLC, owned by Bill Gates' Cascade Investment LLC, asked a Delaware bankruptcy judge Tuesday to extend its exclusivity period by four months, saying it needs to be able to develop a Chapter 11 plan without outside distractions.

The Texas-based company said it has made strides toward reorganization since entering court protection in February, but that much of its efforts to date have gone into managing its businesses, working on a sale of its coal-fired Twin Oaks plant and dealing with litigation...
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