Palm Energy asks court to extend exclusivity period in plan filing

By Lisa Kerner

Charlotte, N.C., Dec. 21 - Palm Energy Partners LLC requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

The company wants to extend its exclusive filing period to May 31 from Dec. 30 and the solicitation period to July 30, 2010 from Feb. 28.

According to the motion, Palm Energy requested the extension in an abundance of caution, citing the size and complexity of its case.

A hearing is scheduled for Jan. 20.

Palm Energy, a Metairie, La., consolidated oil and gas company, and its Pisces Energy, LLC subsidiary filed for bankruptcy on Sept. 3 in the U.S. Bankruptcy Court for the Southern District of Texas. Its Chapter 11 case number is 09-36591.

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