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Agreement reached in Southern bankruptcy

By Clair Johnson

Billings Gazette

The Southern Montana Electric Generation and Transmission Cooperative and its noteholders have reached an agreement to settle disputes in the co-op’s long and complicated bankruptcy.
In a report to the court filed late afternoon Monday, Southern’s attorney, Malcolm Goodrich of Billings, said Southern and its noteholders, including Prudential Insurance Company of America and several other lenders, have “mediated to agreement their various disputes and matters.”
Terms of the agreement remain confidential until it is signed, a task that could be finished by the end of the week, Goodrich said.

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