Optim Energy loan amendment extends plan or sale proposal deadlines

By Caroline Salls

Pittsburgh, March 2 – Optim Energy, LLC’s debtor-in-possession credit agreement was amended to extend the company’s deadlines for delivering a plan of reorganization and disclosure statement or sale proposal to the lenders and the filing of a plan and disclosure or sale motion with the court, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the draft plan or sale proposal must be delivered to the lenders by March 13, and the plan or sale motion must be filed with the court by March 20.

Also under the amendment, the plan must be confirmed and have taken effect or the sale closed by May 12.

Optim, a Silver Spring, Md.-based power plant owner, filed for bankruptcy on Feb. 12, 2014. The Chapter 11 case number is 14-10262.

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