Southern’s reorganization plan wins few friends
By Claire Johnson
A proposed bankruptcy reorganization of Southern Montana Electric and Transmission Cooperative hit a barrage of objections during a hearing Tuesday in U.S. Bankruptcy Court in Billings.
All four of Southern’s remaining rural cooperatives said they thought the plan could not be confirmed and that the trustee had not provided enough information about the wholesale power provider to make a decision.
The objections included power rates, the use of their wholesale power contracts in a settlement and governance issues.
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