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Bankruptcy plan headed toward approval

By Clair Johnson

Billings Gazette

A federal bankruptcy judge gave tentative approval on Friday to the reorganization plan of Southern Montana Electric Generation and Transmission Cooperative, a wholesale power provider, to its rural co-op members.
U.S. Bankruptcy Judge Ralph Kirscher told parties in the long and complex case that he would confirm Southern’s reorganization plan pending receipt of a proposed order and other supplemental plan documents and agreements, court records said.
Gary Ryder, a Hysham attorney who represents the Mid-Yellowstone Electric Co-op, which is a member of Southern, said there were no substantive objections and no one testified during Friday’s hearing.
Recent settlement talks had resolved objections of most of the parties, he said.
“It was nice to get it over,” Ryder said of case.

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