Judge to hear latest reorganization plans for Southern
By Clair Johnson
A federal bankruptcy judge on Friday will consider Southern Montana Electric Generation and Transmission Cooperative’s latest plans to reorganize its debts.
The hearing, to be held at the federal courthouse in Great Falls, is the first of two key hearings this month that could resolve the troubled wholesaler’s financial problems after two-and-a-half years in bankruptcy.
U.S. Bankruptcy Judge Ralph Kirscher on Friday will consider Southern’s proposed disclosure statement, which is a required report intended to give parties enough information about Southern to make a decision about its proposed reorganization plan.
The hearing is the first since Southern reached a settlement in March with its noteholders after removing its court-appointed trustee last year and re-gaining control of its operations.
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